The currency pair “USD/CHF” has caught a fair bid in last trading hours of American trading forming a new low adding the bearish run for greenback while the traders have switched to equity trading position.
USD/CHF cannot extend beyond 0.7250
In a Current trading scenario, the currency pair “USD/CHF” remain unchanged at 0.9881. striking a new balance forming a new low at 0.9873. While the currency pair “USD/CHF” trying very hard to jump back at the high level, which clearly lack the momentum as the weakness in US dollar ($) while the American stocks were somewhat at very high level. The American index Dow jones industrial Average was at high at change of +1.29% @ 16,697.29, while on the other side the Asian rivals were slow on below the expectation.
While the US dollar- USD, can benefit today with one of the most crucial economic event of 2016, (G 20 meetings) which will have based to US dollar weak performance, As the major risk events are set to begin at prelim GDP which will be declared today in the American trading session. A day before the sentiments on global equities were not looking stronger, which took the market at storm by crushing the expectations.
USD/CHF Technical Level:
In today’s trading session, the currency pair “USD/CHF” shows resistance level at (0.9887/90) which can extend to another resistance level at 0.9941/ 45. On the other hand, the immediate support is located at 0.9885 (H1 chart) which might extend to a level of 0.9867