USD/CHF finds support at the 200-day line

FXStreet — The currency pair USD/CHF lost on Friday more than 80 Pips and slipped even below the parity. To blame were disappointing economic data from the United States, and the Greenback is a large part of its week’s gains make. After that, pigeons-like the Fed comments for additional pressure. After Reaching a new 3-day lows at 0,9987, began the currency pair to the 200-day line, a correction movement. Finally, the USD/CHF traded to 1,0020 and to 0.55 per cent in the Minus.

The US Dollar Index, the Greenback versus six major currencies on a trade-weighted Basis, compares, quoted in the morning in a narrow sideways range at around 99,50 — but after the publication of weaker than expected US inflation data, he fell rapidly in the direction of the 99-point mark. In addition, weak retail contributed revenues for a negative Start on Wall Street, which had a negative impact on the risk propensity of investors and the demand for safe havens such as the CHF had increased.

In addition to the disappointing fancy economic data and also dovish tones of the Chicago Fed President Evans were to blame for the renewed downward pressure around the Greenback.

Fed Harker: Two further rate increases are appropriate
USA: Weak data will probably not bring the boat to falter
Fed’s Evans: One more interest rate hike this year is possible

Technical Outlook

The next supports lie at 1,0000/0,9995 (psychological level / 200-day line), 0,9960 (20-day line) and 0.9890 (Deep 03. May). On the upper side, next Resistances at 1,0085 (daily high), 1,0160 (High 09. To find March) and 1,0200 (psychological mark).

** FXStreet News Editorial, FXStreet**

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