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16 Oct 2014
USD/CHF reject 0.9490 and trades back at 0.9450
FXStreet (San Francisco) - The US Dollar's rally from 0.9400 versus the Swiss Franc found selling interest at 0.9490 where the pair was rejected and launched to trade back at 0.9440. So, the pair found some stabilization around 0.9450 following US industrial production.
Industrial production rose 1.0% in September; well above expectations and biggest monthly advance since February; Industrial Production jumped to 79.3%, highest since March, that is highest since Dec 2009 at the same time.
Currently, USD/CHF is trading at 0.9443, down 0.99% on the day, having posted a daily high at 0.9564 and low at 0.9360. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
USD/CHF levels
If the pair consolidates below the 0.9450 level, it will face next supports at 0.9400 and 0.9360. On the upside, resistances are at 0.9490, 0.9450 and 0.9600.
Industrial production rose 1.0% in September; well above expectations and biggest monthly advance since February; Industrial Production jumped to 79.3%, highest since March, that is highest since Dec 2009 at the same time.
Currently, USD/CHF is trading at 0.9443, down 0.99% on the day, having posted a daily high at 0.9564 and low at 0.9360. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
USD/CHF levels
If the pair consolidates below the 0.9450 level, it will face next supports at 0.9400 and 0.9360. On the upside, resistances are at 0.9490, 0.9450 and 0.9600.