USD/CHF rejected once again from 0.9100

By FXstreet.com | August 07, 2014 AAA

FXStreet (Córdoba) - The USD/CHF hit a fresh daily high at 0.9104 but once again it failed to hold and pulled back. After the ECB decision and during Mario Draghi’s press conference bottomed at 0.9065 but then reversed and jumped above 0.9100.



Currently trades at 0.9085/90, up 0.18% so far today. Price continues to move without a clear trend for the day.



USD/CHF remains sideways

Since last week the pair is moving sideways around 0.9070, facing a strong resistance below 0.9110 and with support above 0.9040. The consolidation follows a rally that started in May and brought the pair from 0.8705 to 0.9000 in May and after a correction in June, resumed the upside, reaching levels on top of 0.9100 last week.



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