USD/CHF rejected from 0.9800, loses 100 pips

By FXStreet FXStreet (Córdoba) – USD/CHF printed fresh daily lows at the beginning of the American session as the greenback weakens versus major competitors, exception made by the pound and commodity currencies.

Following four days of gains, USD/CHF found resistance at the 0.9800 area and turned lower, erasing most of its weekly gains. At time of writing, the pair is trading at 0.9710, down 0.90% on the day, having struck a 3-day low of 0.9705 in recent dealings.

The latest string of US data did little to inspire traders, with most pairs holding within familiar ranges.

USD/CHF levels to watch

In terms of technical levels, USD/CHF could find next supports at 0.9705 (200-hour SMA/Sep 24 low) and 0.9681 (50-day SMA), while resistances are seen at 0.9803 (Sep 24 high) and 0.9823 (Sep 9 high).
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Source:: FX Street