USD/CHF rebounds and trims losses

By FXstreet.com | Updated July 30, 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.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/CHF upside rebound likely – SG

  2. Forex News

    Investors still buying CHF despite intervention threat – Growth Aces

  3. Investing

    USD/CHF Possibly Forming Bearish Triangle

  4. Forex News

    USD/CHF in red near 0.9540

  5. Forex News

    USD/CHF upside bias while above 0.9493 – Commerzbank

Trading Center