USD/CHF rebounds and trims losses

By FXstreet.com | June 19, 2014 AAA

FXStreet (Córdoba) - The USD/CHF gained momentum after Wall Street opening bell and recovered ground. The US dollar strengthened in the last hours and trimmed losses across the board.



After bottoming at 0.8909, reaching a 2-week low the USD/CHF rebounded, rising more than 30 pips. Currently trades at 0.8944, down 0.15% for the day but moving to the upside, approaching 0.8950.



USD/CHF levels to watch



The pair is still facing some bearish pressure in the short term but the area around 0.8900 is an important support. A break below could trigger a bigger slide.



To the upside, resistance is seen at 0.8955 and above here, at the 0.9010 level that capped the upside during the last two weeks.



comments powered by Disqus
Related Forex Analysis
  1. USD/CHF consolidating below 0.9550
    Forex News

    USD/CHF consolidating below 0.9550

  2. SNB in no hurry to hike - Goldman Sachs
    Forex News

    SNB in no hurry to hike - Goldman Sachs

  3. USD/CHF Technical Analysis: Pullback Sought to Get Long
    Forex News

    USD/CHF Technical Analysis: Pullback Sought to Get Long

  4. USD/CHF .9580 is a Reaction Level within Range
    Forex News

    USD/CHF .9580 is a Reaction Level within Range

  5. USD/CHF eases from weekly highs
    Forex News

    USD/CHF eases from weekly highs

Trading Center