USD/CHF flat, around 0.8920

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The USD/CHF currently trades at 0.8920, at the same price level it had at the beginning of the day. During the day the pair moved sideways, after the upside found resistance at 0.8930/35 and pulled back.



Price action remained quiet during Friday, with the pair consolidating marginal weekly losses after being unable to break above 0.8950, where an important short-term resistance is located.



Outlook for the USD/CHF



The pair consolidate during all week, after rising in the previous week, when it broke important short-term resistance formations, moving away from 0.8850.



The pair is moving with a short term bearish bias, but still hold some upside momentum, coming from last week. A consolidation below 0.8900 could turned momentum decisively to the downside.



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