USD/CHF Drops Over 1% to 10-Day Low, 50-Day SMA Offers Support
USD/CHF fell for a second straight day, losing more than 1% amid intervention speculation that sent the yen surging. The pair hit a 10-day low of 0.8039, just above its 50-day simple moving average.
USDCHF
The pair declined sharply as growing talk of FX intervention boosted the Japanese yen, weighing on the dollar across the board. USD/CHF slid over 1% to touch 0.8039, its weakest level in ten days.
Price action halted just above the 50-day simple moving average, a level that has previously provided support. A sustained break below this moving average could challenge the near-term bullish structure, while a hold may encourage buyers to step back in.
Source: FXStreet Forex News