USD/CHF extends slide to fresh 6-month lows as USD weakens

Matías Salord FXStreet

USD/CHF dropped further during the American session and reached a fresh 6-month low. The pair has been moving all day with a bearish bias and near the end of the week is trading at 0.9725, level last seen back in November.

The Swiss franc and the euro are among the top performers while the US dollar remains weak. The US dollar Index broke below 97.00 for the first time since November.

On a weekly basis USD/CHF is losing more than 250 pips, the biggest loss in a year.

Technical levels

To the downside, below 0.9725, the next support levels might be located at 0.9705/10 and 0.9645 (Sep 8 low). On the upside, resistance could be seen at 0.9755 (May 18 low), 0.9805 (daily high) and 0.9825 (May 18 high).

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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