USD/CHF tumbles and breaks below 0.9900

The US dollar is falling sharply across the board, as US President Trump speaks about countries playing market devaluation. USD/CHF has fallen almost a hundred pips during the last hours. The pair was trading at 0.9950 and recently bottomed at 0.9869, hitting the lowest level since mid-November. 

Price remains near the lows as the US dollar remains under pressure in the market. The DXY dropped to 99.38, the lowest since November 14. Equity prices in Wall Street extended losses. The Dow Jones was falling 0.75% while the Nasdaq was losing 0.45%. 

USD/CHF levels

To the downside, potential support levels might be located at 0.9840, 0.9815/20 (Sep 15 & 16 high) and 0.9800 (psychological). On the upside, resistance now could be seen at 0.9905, 0.9935 (Jan 30 low) and 0.9975 (100-day moving average).