USD/CHF falls to test 0.9135

By FXstreet.com | August 27, 2014 AAA

FXStreet (Córdoba) - The USD/CHF is falling on Wednesday despite reaching earlier at 0.9183, a fresh 2014 high. During the European session the US dollar lost momentum and retreated across the board, favoring a decline in the pair.



After Wall Street opening bell the USD/CHF bottomed at 0.9138, level located just a few pips above yesterday’s lows. The area around 0.9135 is a short term support level to consider that capped the downside since the beginning of the week. A break lower could trigger some stops, increasing the bearsih correction.



Recently Greenback attempted to recovery but the upside stopped around the hourly 20-SMA that stands at 0.9160. Currently the USD/CHF trades at 0.9143, down 0.31% for the day.



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