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28 Feb 2014
USD/CHF hits 29-month low
FXStreet (Córdoba) - The USD/CHF slumped to a 29-month low Friday as the Swissy strengthened sharply against the greenback taking the lead from the euro.
The USD/CHF broke below the 0.8800 mark and stretched to its lowest since Nov 4 2011 at 0.8789 before finding support, with the release of the US GDP revision having virtually no impact on the pair. The US Q4 GDP was revised down to 2.4% from 3.2% previously estimated and versus 2.5% expected.
USD/CHF technical levels
In terms of technical levels, the USD/CHF is trading at the 0.8800 zone, recording a 0.9% loss on the day, with immediate supports at 0.8789 (Feb 28 low) and 0.8768 (Nov 4 2011 low). On the other hand, resistances are seen at 0.8889 (Feb 28 high) and 0.8918 (Feb 27 high).
The USD/CHF broke below the 0.8800 mark and stretched to its lowest since Nov 4 2011 at 0.8789 before finding support, with the release of the US GDP revision having virtually no impact on the pair. The US Q4 GDP was revised down to 2.4% from 3.2% previously estimated and versus 2.5% expected.
USD/CHF technical levels
In terms of technical levels, the USD/CHF is trading at the 0.8800 zone, recording a 0.9% loss on the day, with immediate supports at 0.8789 (Feb 28 low) and 0.8768 (Nov 4 2011 low). On the other hand, resistances are seen at 0.8889 (Feb 28 high) and 0.8918 (Feb 27 high).