FXstreet.com (Córdoba) - The dollar weakened during the New York session, weighed by disappointing US economic data, and fell to its lowest in 2 day versus the franc before finding support.
USD/CHF lost 90 pips from its European session high of 0.9798 dropping to a low of 0.9708 before stabilizing above that level. At time of writing, the cross is trading at the 0.9715 area, printing a 0.5% decline on Thursday.
"The pair continued moving up but could not cross its crucial resistance of 0.9800 and came down", says the Kshitij Consultancy Services Team. "Till the pair trades above 0.9735 and 0.9690 we can assume that the pair will move up and continue its uptrend, but a break below these support levels can take the pair into a bearish mode and lower towards 0.9610".
USD/CHF lost 90 pips from its European session high of 0.9798 dropping to a low of 0.9708 before stabilizing above that level. At time of writing, the cross is trading at the 0.9715 area, printing a 0.5% decline on Thursday.
"The pair continued moving up but could not cross its crucial resistance of 0.9800 and came down", says the Kshitij Consultancy Services Team. "Till the pair trades above 0.9735 and 0.9690 we can assume that the pair will move up and continue its uptrend, but a break below these support levels can take the pair into a bearish mode and lower towards 0.9610".
