Tuesday, March 16, 2010

USD/CHF falls to 1.0570, fresh 5-week low



USD/CHF falls to 1.0570, fresh 5-week low

(Córdoba) – The Swiss Franc is rising against the Dollar erasing yesterday’s losses. USD/CHF fell to 1.0570 reaching the lowest price since February 3. 

The pair is holding below 1.0600 and currently trades at 1.0583/86, 0.30% below today’s opening price. 

To the upside resistance could be located at 1.0620 and above at 1.0640 (March 15 high). To the downside support levels lie at 1.0570 (intra-day low) and below at 1.0550.

The Euro trades at the same level it had at the beginning of the day against the Swiss Franc after falling sharply in the last two days. EUR/CHF is hovering around 1.4520, after finding support during the Asian session at 1.4500/05 (16-month low). 

USD/CHF (Mar 16 at 12:55 GMT)

1.0586/91 (-0.29%)

H 1.0627 L 1.0569

S3S2S1R1R2R3
1.05331.05591.05861.05981.06251.0651
[?]Trend Index[?]OB/OS Index
Slightly BearishNeutral
Data updated on Mar 16 at 12:43 (15-minute timeframe)

[ View USD/CHF Technical Studies ]

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