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15 May 2014
USD/CHF pulls back as the dollar weakens
FXStreet (Córdoba) - The USD/CHF is backing away from daily highs as the dollar gives up its European session gains across the board following a mixed bag of US data.
The USD/CHF has pulled back sharply after hitting a 3-month high of 0.8959, having trimmed most of its intraday gains to trade at the 0.8910 area, still up 0.15%. Regarding the USD turnaround, Jamie Coleman, analyst at FXBeat commented: “My guess is with the market growing risk-averse, traders are trimming whatever positions they have on the books”.
USD/CHF technical outlook
From a technical perspective, the FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
As for technical levels, the USD/CHF could find immediate supports at 0.8890 (May 15 low), 0.8882 (May 14 low) and 0.8865 (May 13 high). On the other hand, resistances are seen at 0.8959 (May 15 high), the 0.9000/04 area (psychological level/200-day SMA) and 0.9037 (Feb 12 high).
The USD/CHF has pulled back sharply after hitting a 3-month high of 0.8959, having trimmed most of its intraday gains to trade at the 0.8910 area, still up 0.15%. Regarding the USD turnaround, Jamie Coleman, analyst at FXBeat commented: “My guess is with the market growing risk-averse, traders are trimming whatever positions they have on the books”.
USD/CHF technical outlook
From a technical perspective, the FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
As for technical levels, the USD/CHF could find immediate supports at 0.8890 (May 15 low), 0.8882 (May 14 low) and 0.8865 (May 13 high). On the other hand, resistances are seen at 0.8959 (May 15 high), the 0.9000/04 area (psychological level/200-day SMA) and 0.9037 (Feb 12 high).