USD/CHF approaches 0.9900 level

Source: Dukascopy Bank SA


The surge, which has followed the breaking of the channel down pattern, was heading to the 0.9900 mark. However, on September 8, the currency pair appeared to have started a decline, as it suddenly reversed and approached the 0.9700 level.

A decline below the 0.9700 mark might look for support in the 50-day simple moving average near 0.9640. Further below, note the 0.9600 mark and the 200-day simple moving average near 0.9530.

On the other hand, a recovery of the US Dollar against the Swiss Franc would have to pass the summer high zones at 0.9860/0.9890 and 0.9985/1.0025.
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