USD/CHF recovers from daily lows

By FXstreet.com | August 29, 2014 AAA

FXStreet (Córdoba) - The USD/CHF has erased intraday losses as the greenback recovers ground at the beginning of the American session.



Moving inversely with the EUR/USD, the USD/CHF bounced from a low of 0.9138 to the 0.9150 area before losing momentum and settling around the flat line. At time of writing, the pair is trading at 0.9150, virtually unchanged on the day.



However, the pair is on track to close August with gains, recording its second monthly rise in a row.



With economic data already out and ahead of the long weekend in US, trading is expected to remain subdued in the absence of news.



USD/CHF technical levels



As for technical levels, immediate resistances are seen at 0.9162 (Aug 29 high), 0.9184 (Aug 27 high) and 0.9200 (psychological level). On the other hand, supports could be found at 0.9130 (10-day SMA), 0.9100 (psychological level) and 0.9089 (Aug 20 low).



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