US Dollar drops sharply, particularly against majors on Tuesday. USD/CHF confirms break under 0.9050, tests psychological area at 0.9000. The USD/CHF pair dropped back under 0.9050 and tumbled to 0.9009, reaching a fresh multi-year low. As of writing, it trades at 0.9035/40, and holds the bearish pressure intact, challenging the 0.9000 area. The US dollar could fall under 0.9000 for the first time since January 2015, when the Swiss National Bank abandoned the EUR/CHF floor. The move lower in USD/CHF on Tuesday is being driven by a resumption the US dollar bearish trend against majors. Yields are holding steady, economic data came in better-than-expected, but probably US/China tensions and political uncertainty in the US ahead of the presidential elections. The greenback dropped to fresh cycle lows versus the euro and the pound. The DXY fell below 92.30 for the first time in two years. The index is posting the fifth daily decline in a row. Technical levels On the downside, the critical support in USD/CHF is seen at 0.9000; a break lower would target the 0.8980 area immediately and below the next level to consider strands around 0.8955. On the upside, resistance now might be located at 0.9050, followed by 0.9067 (daily high) and 0.9085. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Housing Starts: Homebuilding has a strong wind at its back – Wells Fargo FX Street 2 years US Dollar drops sharply, particularly against majors on Tuesday. USD/CHF confirms break under 0.9050, tests psychological area at 0.9000. The USD/CHF pair dropped back under 0.9050 and tumbled to 0.9009, reaching a fresh multi-year low. As of writing, it trades at 0.9035/40, and holds the bearish pressure intact, challenging the 0.9000 area. The US dollar could fall under 0.9000 for the first time since January 2015, when the Swiss National Bank abandoned the EUR/CHF floor. The move lower in USD/CHF on Tuesday is being driven by a resumption the US dollar bearish trend against majors. Yields are holding steady, economic… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
