USD/CHF drops below 100-day SMA

FXStreet (Córdoba) – USD/CHF is going through a consolidation phase on Thursday, oscillating in a range intraday speaking but unable to set a clear longer-term direction.

USD/CHF eased from a 1-month high of 0.9542 scored yesterday and fell below the 100-day SMA (0.9469), but with the downside being contained by the 0.9450 area, the pair was confined to a phase of consolidation.

A patch of mixed US data did little to inspire traders. While US pending home sales rose by 3.4% to a 9-year high, while on the other hand, initial jobless claims unexpectedly rose last week.

USD/CHF technical levels

At time of writing, the pair is trading at 0.9460, still down 0.33% on the day. In terms of technical levels, immediate supports are seen at 0.9443 (May 26 low) and 0.9304 (May 25 low). On the flip side, resistances could be found at 0.9510 (daily high), 0.9542 (May 27 high) and 0.9571 (Apr 29 high).

USD/CHF is going through a consolidation phase on Thursday, oscillating in a range intraday speaking but unable to set a clear longer-term direction.

(Market News Provided by FXstreet)