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11 Dec 2015
USD/CHF collapses to 0.9830
FXStreet (Edinburgh) - The greenback is now plummeting in response to a bout of selling pressure around the dollar, dragging USD/CHF to test fresh lows near 0.9830.
USD/CHF weaker on USD slump
The selling interest around the pair is gathering further traction today after the greenback has reacted adversely to the PBoC intentions of weakening further the Chinese currency.
Data wise, USD practically ignored auspicious releases from the US docket, where headline Retail Sales have expanded 0.2% in November and Core sales have gained 0.4% during the same period, all ahead the Reuters/Michigan index due later.
USD/CHF relevant levels
As of writing the pair is down 0.46% at 0.9834 and a breach of 0.9807 (100-day sma) would aim for 0.9655 (200-day sma) and then 0.9473 (low Oct.15). On the flip side, the next hurdle aligns at 1.0000 (psychological level) followed by 1.0038 (high Dec.7) and finally 1.0335 (2015 high Nov.27).
USD/CHF weaker on USD slump
The selling interest around the pair is gathering further traction today after the greenback has reacted adversely to the PBoC intentions of weakening further the Chinese currency.
Data wise, USD practically ignored auspicious releases from the US docket, where headline Retail Sales have expanded 0.2% in November and Core sales have gained 0.4% during the same period, all ahead the Reuters/Michigan index due later.
USD/CHF relevant levels
As of writing the pair is down 0.46% at 0.9834 and a breach of 0.9807 (100-day sma) would aim for 0.9655 (200-day sma) and then 0.9473 (low Oct.15). On the flip side, the next hurdle aligns at 1.0000 (psychological level) followed by 1.0038 (high Dec.7) and finally 1.0335 (2015 high Nov.27).