Thursday, September 24, 2015

USD/CHF: Offered at critical resistance

FXStreet (Mumbai) - The USD/CHF pair was offered at a critical resistance around 0.98 levels in Asia today after having rallied for four trading sessions.

CHF bid as European stock futures struggle

The bid tone on the safe haven CHF attempts to recover in early Europe as major stock futures in Europe are showing signs of nervous investor sentiment. The Dax and the FTSE futures are trading moderately lower in early Europe, leading to moderate strength in the CHF.

Moreover, the pair was offered above 0.98 levels, from where the spot turned lower earlier this month. Ahead of the US durable goods report due later today, the overall market sentiment could continue to influence the pair.

USD/CHF Technical Levels

The pair currently trades around 0.9780. The immediate support is located at 0.9763 (Sep 15 high), under which the spot could drop to 0.97 levels. On the other side, resistance is seen at 0.9824 (Sep 9 high) and 0.9903 (Aug 11 high).
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