USD/CHF ends a positive streak with a sharp decline
The USD/CHF is losing more than 50 pips on Tuesday ending a positive streak for the US Dollar. The pair printed a fresh two-day low at 0.9508 during the American session on the back of a decline of the DXY and a stronger Swiss Franc. More weakness in USD/CHF would expose the critical short-term support at 0.9495/0.9500. On the upside, immediate resistance is seen at 0.9560 followed by the 0.9600 area.
The US Dollar Index is losing 0.40% on Tuesday, after rising during the previous three trading days. At the same time, equity prices on Wall Street are posting gains in a quiet session. Regarding economic data, the US released the Richmond Fed Manufacturing Index which rose in November from -10 to -9. On Wednesday, global PMIs are due and the Federal Reserve will release the minutes of its latest meeting. The Swiss Franc gained momentum during the American session. The EUR/CHF cross broke below 0.9800 and dropped to 0.9762, hitting the lowest since November 16. The GBP/CHF turned negative hitting levels under 1.1300 and rose to the highest level in a week above 148.60.