USD/CHF continues around 0.9020

By FXstreet.com | July 24, 2014 AAA

FXStreet (Córdoba) - The USD/CHF continues to move sideways around 0.9020 for the second day in a row, consolidating near weekly highs. Hours ago peaked at 0.9036, hitting levels not seen since February and then bounced to the downside and bottomed at 0.9006, a 2-day low.



After making a bullish run on Tuesday the pair stabilized above 0.9000 and is headed toward the second weekly gain in a row, on the back of a stronger US dollar across the board.



USD/CHF technical outlook



Currently is moving in a consolidation mode, but the short to medium trend still points to the upside. A key support to the bullish perspective is located around 0.8920/30 where daily uptrend line stands.



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