The USDCHF is trading weaker to start the week as the U.S. dollar faces broad pressure following Moody’s downgrade of U.S. sovereign credit late Friday.
From a technical perspective, Friday’s rally attempt failed to hold above the 100-hour moving average (blue line), and sellers have since taken the pair below the 200-hour moving average (green line) at 0.83496. That level now acts as close resistance.
On the downside, today’s low found buyers within a key swing area between 0.8318 and 0.8333—a former ceiling that is now serving as a support floor. Traders will look to that zone for clues about the next directional move. Holding above it keeps the door open for a retest of resistance; a break below would open the path toward the next lower target area near 0.8272.
Key levels:
Resistance: 0.8349 (200-hour MA), 0.8375 (100-hour MA)
Support: 0.8318–0.8333 (swing area), then 0.8272 to 0.8280 (swing area)
Momentum favors sellers, but watch the 0.8318–0.8333 floor for signs of a shift.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdchf under pressure as moody s downgrade weighs on dollar key support holds was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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