USD/CHF falters ahead of 0.9000

By FXstreet.com | July 17, 2014 AAA

FXStreet (Córdoba) - The USD/CHF has entered a consolidation phase and is taking a breather after an impressive 2-day rally that took the pair to a 1-month peak near the 0.90 mark.



The USD/CHF climbed almost 100 pips over the last days and reached a high of 0.8988 amid broad USD strength following Fed Yellen testimony before the US Congress. The dollar however, faltered a few pips before the 0.9000 mark and staged a minor correction. At time of writing, the USD/CHF is trading at 0.8975, a few pips below its opening price.



USD/CHF levels to watch



In terms of technical levels, the USD/CHF could find next resistances at 0.8988 (Jul 16 high), 0.8999/0.9000 (Jun 18 high/psychological level), 0.9005 (Jun 17 high) and 0.9013 (Jun 16 high). On the flip side, supports are seen at 0.8944 (200-day SMA), 0.8910 (Jul 15 low) and 0.8900 (psychological level).



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