USD/CHF collapses to a new 10-day Low

FXStreet – The currency pair USD/CHF lost for the week start on Monday is 60 Pips. Now, it extended its losses due to the persistent selling pressure around the Greenback. So, the US dollar fell on Tuesday to its lowest level since 7. May 0,9874. Finally, the currency traded pair on 0,9887 and to 0.79 per cent in the Minus.

For a bad mood once again, disappointing economic data from the United States. As a result, the U.S. Dollar index depreciated to the lowest level in more than six months (98,12). The number of building permits fell in April by 2.5 percent to an annualised rate 1.229 million, according to the U.S. Department of Commerce on Tuesday. Housing starts fell month-on-month by 2.6 percent on the year grossed-up 1.172 million units. Positively, however, the data for the industry were able to surprise production. To put in comparison with the previous month by 1.0 percent. Capacity utilisation rose in April to 76.7 percent. Last, the Index lost 0.6 percent and traded on 98,24 points.

The economic calendar holds no further macro data from the first row of Europe, which the Couple significantly could influence the US Dollar Index as the sole price driver serve. The fact that the US stock markets are relatively started friendly in the day is likely to limit the losses in the USD/CHF.

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Technical Outlook

The next supports lie at 0,9860 (Deep 05. May), 0,9810 (Deep 27. March) and 0,9765 (Deep 07. October). Resistors, on the other hand, 0,9900 (psychological mark), 0,9960 (20-day line) and 1,000 (psychological mark).

** FXStreet News Editorial, FXStreet**

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