Back
12 Dec 2014
USD/CHF hits 1-week lows
FXStreet (Córdoba) - USD/CHF spiked lower and hit a 1-week low at 0.9624, but so far the Swissy has been unable to break the support area located around 0.9620/25.
Currently the pair trades at 0.9634, 50 pips below today’s opening price. After bottoming rebounded but the upside was capped by 0.9660.
USD/CHF outlook
Price action remains limited on Friday. Momentum favors the downside in the USD/CHF and remains testing weekly lows. But the bearish momentum of the pair is being offset by a rally of the US dollar against the yen and commodity currencies. Also gold and crude oil prices are falling, giving some support to the dollar.
Currently the pair trades at 0.9634, 50 pips below today’s opening price. After bottoming rebounded but the upside was capped by 0.9660.
USD/CHF outlook
Price action remains limited on Friday. Momentum favors the downside in the USD/CHF and remains testing weekly lows. But the bearish momentum of the pair is being offset by a rally of the US dollar against the yen and commodity currencies. Also gold and crude oil prices are falling, giving some support to the dollar.