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23 Apr 2015
USD/CHF drops further, eyes 0.9500
FXStreet (Córdoba) - USD/CHF broke below 0.9600 and slipped further hitting a fresh daily low at 0.9536. At the moment the pair trades around 0.9550, down 1.70% for the day.
The Swiss franc is among the best performers across the board on Thursday, recovering after dropping sharply yesterday, affected by the announcement made by the Swiss National Bank (SNB) that more deposits were affected by negative rates.
The pair has erased most of yesterday’s gains and is back at the same level it had at the beginning of the week, after making an important reversal from today's daily high at 0.9719, from where it has fallen more than 150 pips.
USD/CHF approaches key support
The decline from levels on top of 0.9700 brought the price near a key short term support level located around 0.9500 . The mentioned area capped the delicate everyday since last Friday.
The Swiss franc is among the best performers across the board on Thursday, recovering after dropping sharply yesterday, affected by the announcement made by the Swiss National Bank (SNB) that more deposits were affected by negative rates.
The pair has erased most of yesterday’s gains and is back at the same level it had at the beginning of the week, after making an important reversal from today's daily high at 0.9719, from where it has fallen more than 150 pips.
USD/CHF approaches key support
The decline from levels on top of 0.9700 brought the price near a key short term support level located around 0.9500 . The mentioned area capped the delicate everyday since last Friday.