- Swiss franc gains momentum on Tuesday and rises in the market.
- The DXY cuts its streak after three days with consecutive rises.
- USD/CHF sets sights on 0.9500 after failing 0.9600.
The USD/CHF is falling significantly on Monday. In the last few hours, the Swiss franc is the currency that has risen the most, while the dollar remains somewhat weak, ending a four-day bullish streak.
After rising steadily since last week, after bottoming out at 0.9350USD/CHF is cutting through that bias and falls sharply. The pair is erasing Monday’s gains and part of Friday’s.
The pair recently bottomed at 0.9507, the lowest level since Friday. The support zone of 0.9495/0.9500 is stopping the declines; a break would enable a larger pullback. On the upside, at 0.9560 is the first resistance and above it the focus will go back to 0.9600.
The USD/CHF slide has underlying dollar weakness, but was matched more recently by a Swiss franc rally. The EUR/CHF is losing more than 50 pips and has just fallen to 0.9762, the lowest level in a week.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
