Investing.com – The U.S. dollar fell to a fresh daily low against the Swiss franc on Monday, amid rising market caution ahead of the release of key U.S. data on existing home sales.
USD/CHF hit 1.0491 during European afternoon trade, a fresh daily low; the pair subsequently consolidated at 1.0501, shedding 0.30%.
The pair was likely to find support at 1.0394, the low of July 22 and a 7-month low and resistance at 1.0564, last Friday's high.
Later in the day, the U.S. Census Bureau was to release key monthly data on existing homes sales. Last month existing homes sales fell sharply after a tax credit for homebuyers expired.
The Swissy was up against the euro, with EUR/CHF shedding 0.24% to hit 1.3575.
On Friday, Switzerland's banking regulator said that Swiss banks UBS and Credit Suisse had passed tests "twice as severe" as euro zone bank stress tests. The Swiss National Bank has said in the past that both banks were "too big to fail".
USD/CHF hit 1.0491 during European afternoon trade, a fresh daily low; the pair subsequently consolidated at 1.0501, shedding 0.30%.
The pair was likely to find support at 1.0394, the low of July 22 and a 7-month low and resistance at 1.0564, last Friday's high.
Later in the day, the U.S. Census Bureau was to release key monthly data on existing homes sales. Last month existing homes sales fell sharply after a tax credit for homebuyers expired.
The Swissy was up against the euro, with EUR/CHF shedding 0.24% to hit 1.3575.
On Friday, Switzerland's banking regulator said that Swiss banks UBS and Credit Suisse had passed tests "twice as severe" as euro zone bank stress tests. The Swiss National Bank has said in the past that both banks were "too big to fail".