USD/CHF eyes 0.9000

By FXstreet.com | July 16, 2014 AAA

FXStreet (Córdoba) - The USD/CHF is rising for the second day in a row and recently printed a fresh daily high at 0.8986. Price remains near daily highs after rebounding at 0.8975 (American session low).



During the last 30 hours the pair has risen 70 pips and now is on its way toward the highest daily close in a month, on the back of a strong US dollar and a decline of the Swiss Franc across the board.



USD/CHF approaches key resistance



To the upside, if the price rises further it will face 0.9010/15, where multiple daily highs from June lie. Also the USD/CHF has been unable to post a daily close above 0.9000 since February.



A break higher could trigger a bullish signal. To the downside, immediate support lies at 0.8975 and below here at 0.8960 and 0.8900.



comments powered by Disqus
Related Forex Analysis
  1. NZD/USD Rebounds After Piercing Line Pattern Offered Bullish Signal
    Forex News

    NZD/USD Rebounds After Piercing Line Pattern Offered Bullish Signal

  2. GBP/USD Recovery May Lack Fuel Amid Void Of Reversal Signals
    Forex News

    GBP/USD Recovery May Lack Fuel Amid Void Of Reversal Signals

  3. EUR/USD Descent Stalls As A Doji Candlestick Highlights Hesitation
    Forex News

    EUR/USD Descent Stalls As A Doji Candlestick Highlights Hesitation

  4. USD/JPY recovered from Asian lows at 108.55, but still under pressure
    Forex News

    USD/JPY recovered from Asian lows at 108.55, but still under pressure

  5. AUD/USD Rebounds After Dragonfly Doji Denoted Indecision At 2014 Low
    Forex News

    AUD/USD Rebounds After Dragonfly Doji Denoted Indecision At 2014 Low

Trading Center