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27 Jan 2015
USD/CHF trades below 0.9
FXStreet (Mumbai) - The USD/CHF fell below 0.9 levels after a surprisingly weak US Durable goods orders data triggered speculation that the US Federal Reserve may turn dovish at its January meet tomorrow.
The pair now trades at 0.8994 levels; down 0.36% for the day. The US dollar came under pressure after the Durable goods orders fell 3.4% in December, while core orders declined 0.6% in December. Both the data for the previous month’s were also revised lower. Moreover, a weak data pushed the USD lower across the board on speculation that Fed may delay the interest rate hike on signs that the economy is still not out of the woods.
Earlier today, the USD/CHF pair rose to a high of 0.9160 on rumors of Swiss National Bank’s intervention in the FX markets.
USD/CHF Technical Levels
The immediate support is located at 0.8929, under which losses could be extended to 0.8863 (5-DMA) levels. Meanwhile, resistance is located at 0.91 and 0.9160 levels.
The pair now trades at 0.8994 levels; down 0.36% for the day. The US dollar came under pressure after the Durable goods orders fell 3.4% in December, while core orders declined 0.6% in December. Both the data for the previous month’s were also revised lower. Moreover, a weak data pushed the USD lower across the board on speculation that Fed may delay the interest rate hike on signs that the economy is still not out of the woods.
Earlier today, the USD/CHF pair rose to a high of 0.9160 on rumors of Swiss National Bank’s intervention in the FX markets.
USD/CHF Technical Levels
The immediate support is located at 0.8929, under which losses could be extended to 0.8863 (5-DMA) levels. Meanwhile, resistance is located at 0.91 and 0.9160 levels.