- The Swiss franc rises against the dollar but loses against its European rivals.
- The dollar weakened at the beginning of the US elections.
The USD / CHF is falling after rising for six consecutive days and is back from a month high. The price fell to 0.9139, the lowest level since Friday. It is trading near the lows, pressing the 0.9140 support.
The main factor behind is the weakness of the dollar. The greenback is falling on all fronts, in part because of the rise in stocks throughout the world. The main Wall Street indices are in positive territory, possibly with some expectation that the winner of the US presidential elections will be known soon and clearly.
The one before it becomes known how the Americans voted is to be expected to contribute to generating volatility in the financial markets. At the moment, the dollar is falling in the market, cutting the gains of recent days. The fall was both against the main and against the currencies linked to commodities.
The USD / CHF pullback has so far found support at the 0.9140 area. A firm break below would enable a bearish extension. The next supports are at 0.9120 and 0.9100. In the opposite direction, resistances are seen at 0.9170 / 75 (October 29 high) and 0.9190.
Credits: Forex Street
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