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12 Mar 2014
USD/CHF falls to fresh multi-year low
FXStreet (Córdoba) - The USD/CHF resumed its decline following a couple of days of consolidation, and hit a fresh 28-month low sub-0.8750 in recent dealings.
The franc has benefited from increasing risk aversion amid concerns over China and tensions between Ukraine and Russia, dragging the USD/CHF to a low of 0.8742. At time of writing, the pair is trading at the 0.8750 area, recording a 0.5% loss on the day. The USD/CHF has dropped more than 400 pips ever since peaking at 0.9155 on Jan 20.
USD/CHF technical levels
In terms of technical levels, the USD/CHF could find immediate supports at 0.8742 (Mar 12 low), 0.8727 (Oct 26 2011 low) and 0.8700 (psychological level). On the other hand, resistances are seen at 0.8800 (psychological level), 0.8814 (10-day SMA) and 0.8855 (20-day SMA).
The franc has benefited from increasing risk aversion amid concerns over China and tensions between Ukraine and Russia, dragging the USD/CHF to a low of 0.8742. At time of writing, the pair is trading at the 0.8750 area, recording a 0.5% loss on the day. The USD/CHF has dropped more than 400 pips ever since peaking at 0.9155 on Jan 20.
USD/CHF technical levels
In terms of technical levels, the USD/CHF could find immediate supports at 0.8742 (Mar 12 low), 0.8727 (Oct 26 2011 low) and 0.8700 (psychological level). On the other hand, resistances are seen at 0.8800 (psychological level), 0.8814 (10-day SMA) and 0.8855 (20-day SMA).