- Swiss franc outperforms during American session.
- USD/CHF ends a positive streak with a sharp decline.
- The DXY maintains losses, in a calm trading session.
The USD/CHF loses more than 50 points on Tuesday, ending a positive streak for the US dollar. The pair marked a fresh two-day low at 0.9508 during the American session, due to the fall in the DXY and the strengthening of the Swiss franc.
Further USD/CHF weakness would expose critical near-term support at 0.9495/0.9500. On the upside, immediate resistance lies at 0.9560, followed by the 0.9600 zone.
The dollar falls, the Swiss franc behaves better
The dollar index loses 0.40% on Tuesday, after rising for the previous three days. At the same time, stock prices on Wall Street are posting gains in a quiet session.
In terms of economic data, the Richmond Fed Manufacturing Index was released in the US, rising from -10 to -9 in November. On Wednesday the global PMIs will be released and the Federal Reserve will release the Minutes of its last meeting.
The Swiss franc gained momentum during the American session. The EUR/CHF cross broke below 0.9800 and fell to 0.9762, hitting the lowest since November 16. GBP/CHF turned negative and reached levels below 1.1300 and rose to the highest level in a week above 148.60.
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.
