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26 Apr 2013
Forex: USD/CHF touches 0.9400 low
FXstreet.com (Córdoba) - The US dollar weakened broadly and fell to a 3-day low against the franc after data showed US Q1 GDP annualized came in strong (+2.5%), but below expectations (+3.0%).
USD/CHF fell over 30 pips after the data, sliding below the 100-hour SMA, and hit a low of 0.9401 before finding support. The pair is currently trading around 0.9420/25, where it records a 0.3% loss on the day.
Below 0.9400, next support levels are seen at 0.9387 (38.2% retracement of 0.9207/0.9499) and 0.9373 (21-day SMA). On the upside, resistances could now be found at 0.9455 (daily high), 0.9485 (high Apr 25) and 0.9500 (psychological level).
USD/CHF fell over 30 pips after the data, sliding below the 100-hour SMA, and hit a low of 0.9401 before finding support. The pair is currently trading around 0.9420/25, where it records a 0.3% loss on the day.
Below 0.9400, next support levels are seen at 0.9387 (38.2% retracement of 0.9207/0.9499) and 0.9373 (21-day SMA). On the upside, resistances could now be found at 0.9455 (daily high), 0.9485 (high Apr 25) and 0.9500 (psychological level).