USD/CHF is trading near its 2-week low struck earlier at 0.8312 after a limited Greenback bounce as risk aversion eased somewhat. USD/CHF was unable to extend the recovery from lows above the 0.8365 area and it retreated to the 0.8325 zone.
At time of writing, USD/CHF is quoting at the 0.8330 region, where it is 0.32% below its opening price. USD/CHF is falling for third straight day as the Franc has been supported by the risk-off environment.
From a technical perspective, Slobodan Drvenica, analyst at Windsor Brokers Ltd, said, "Recovery attempt from yesterday’s low at 0.8328 was short-lived, as gains were capped by 20 day MA, at 0.8396. Subsequent weakness reached fresh low at 0.8311, confirming negative structure and looking for test of 0.8300/0.8273 lows, below which to open fresh phase lower and post new record lows. On the upside, 0.8400 offers strong resistance".
No comments:
Post a Comment