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.



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