USD/CHF: Fourth consecutive session of losses?

Omkar Godbole FXStreet Contributor

FXStreet (Mumbai) - The weak tone on the USD/CHF pair remains intact, pushing it to a session low of 0.9679 levels ahead of the European session.

Focus on stocks

The spot suffered losses for the third consecutive session on Friday after having failed to repeatedly to sustain above 0.98 levels. The USD/CHF pair has recovered from the low of 0.9679, but stays stays weak. The CHF could continue to strengthen in case the European stocks open lower in line with the weakness seen in the Asian equities.

Meanwhile, the focus would also be on Swiss retail sales data for July and Producer and Import price data.

USD/CHF Technical Levels

The spot currently trades around 0.9685. The immediate resistance is seen at 0.9712 (10-DMA), followed by a major hurdle at 0.9742 (5-DMA). On the other side, support is seen at 0.9682 (Friday’s low) and 0.9642 (50-DMA).

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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