- Rising demand for safe-havens boosted demand for CHF, pushing USD/CHF to day’s lows at 0.9569
- Markets largely ignored upbeat Swiss manufacturing PMI, USD/CHF now paring some of the day’s losses and hovering above 0.96 handle
- Broad based US dollar sell-off is keeping the pair largely subdued, USD/CHF is currently trading at 0.9628
- Price action remains above the cloud, with strong support seen at 10/200 DMAs ahead at 0.9550/40
- Next hurdle for the major is located at 0.9680 (21 DMA), breaks above could see the pair at 0.9690 levels
Resistance Levels:R1: 0.9680 (21 DMA)R2: 0.9690 (Daily High Aug 31)R3: 0.9799 (Daily High Aug 17)Support levels:S1: 0.9550 (10 DMA)S2: 0.9540 (200 DMA)S3: 0.9519 (Daily Cloud Top)
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