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18 Mar 2014
USD/CHF finds resistance at 0.8770 and erases gains
FXStreet (Córdoba) - The USD/CHF finished Tuesday flat after erasing gains during the American session amid a weak US dollar across the board. Before Wall Street opening bell the pair rose to 0.8769 reaching the highest price since last Wednesday but then reversed it direction and fell, ending at 0.8730.
On Tuesday the pair closed for the fifth day in a row between 0.8720 and 0.8740, suggesting some stabilization after reaching multi-year lows last week at 0.8699.
Levels to watch for the USD/CHF
To the upside, immediate resistance lies at 0.8770 (March 18 high) and above at 0.8815/20 (March 7 high). To the downside, support could be located around 0.8720 and below here at the key area between 0.8695 and 0.8700, that capped the downside last week.
On Tuesday the pair closed for the fifth day in a row between 0.8720 and 0.8740, suggesting some stabilization after reaching multi-year lows last week at 0.8699.
Levels to watch for the USD/CHF
To the upside, immediate resistance lies at 0.8770 (March 18 high) and above at 0.8815/20 (March 7 high). To the downside, support could be located around 0.8720 and below here at the key area between 0.8695 and 0.8700, that capped the downside last week.