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USD/CHF Falls To A Minimum In Two Weeks And Tests 0.9900


The USD / CHF fell recently to 0.9906

The USD/CHF is falling on Tuesday, despite higher-than-expected inflation data that became known in the United States. The Swiss franc is accompanying the euro rally in the market.

The USD/CHF fell recently to 0.9906, the lowest level since October 26. From that level, it slightly rebounded and at the time of writing it was at 0.9920/25, on the way to having the first close below the 20-day moving average since mid-September. That confirmed event could be a foretaste of more crashes at the crossing.

For now, the decline has slowed in close to 0.9900. Below the next support can be seen at 0.9875 and then 0.9835/40.

The downward bias is expected to persist unless the USD/CHF exceeds 0.9980, since doing so would be returning on a significant resistance, in addition to breaking a short-term bearish line.

For now the dominant bias is towards the downside, guided mainly by the weakness of the dollar throughout the market on Tuesday, which added some strength of the Swiss franc, thanks to the advance of the euro. The fact that the product price index in the United States has reached the highest annual rate since 2012 did not support the pair.

Disclosure: I am/we are long USDCHF.