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18 Feb 2014
USD/CHF falls to 7-week low
FXStreet (Córdoba) - Moving inversely with the EUR/USD, the USD/CHF broke below the 0.8900 mark and fell to its lowest level in 2014 during the American session following disappointing manufacturing and housing data from the US.
The USD/CHF lost more than 50 pips throughout the day and scored a low of 0.8870 before finding support and settling in a slim range. At time of writing, the USD/CHF is trading at the 0.8880 zone, recording a 0.4% loss on the day.
USD/CHF levels to watch
In terms of technical levels, if the USD/CHF breaks below 0.8870 (Feb 18 low), 0.8832 (Dec 17 low) and 0.8800 (psychological level). On the other hand, resistances are seen at 0.8929 (Feb 18 high), 0.8935 (100-hour SMA) and 0.8960 (200-hour SMA).
The USD/CHF lost more than 50 pips throughout the day and scored a low of 0.8870 before finding support and settling in a slim range. At time of writing, the USD/CHF is trading at the 0.8880 zone, recording a 0.4% loss on the day.
USD/CHF levels to watch
In terms of technical levels, if the USD/CHF breaks below 0.8870 (Feb 18 low), 0.8832 (Dec 17 low) and 0.8800 (psychological level). On the other hand, resistances are seen at 0.8929 (Feb 18 high), 0.8935 (100-hour SMA) and 0.8960 (200-hour SMA).