USD/CHF consolidates at 6-month highs

By FXstreet.com | July 30, 2014 AAA

FXStreet (Córdoba) - The USD/CHF rose back to retest 6-month highs Wednesday as rising geopolitical tensions and upbeat confidence data have kept the USD in demand.



Following a consolidation phase, the USD/CHF climbed back to a high of 0.9073 at the beginning of the European session, matching yesterday’s peak. However, the dollar has lacked momentum to break above that level. At time of writing, the USD/CHF is trading at 0.9070, virtually unchanged on the day.



Up ahead, US ADP, 2Q GDP flash and the FOMC decision could offer some direction to financial markets.



USD/CHF technical levels



As for technical levels, the USD/CHF could find immediate resistances at 0.9073 (Jul 29 high), 0.9081 (Feb 3 high) and 0.9100 (psychological level). On the flip side, supports are seen at 0.9034 (Jul 29 low), 0.9000 (psychological level) and 0.8970 (Jul 21 low).



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