USD/CHF retreats from 3-day highs

By FXstreet.com | Updated August 12, 2014 AAA

FXStreet (Córdoba) - The USD/CHF rose during the European session to 0.9102, reaching the strongest level since last Thursday but it was rejected from above 0.9100 and pulled back.



After Wall Street opening bell the decline accelerated and fell to 0.9079. During the last hour price stabilized and has being consolidating around 0.9080, 15 pips above the level it closed yesterday.



USD/CHF faces resistance again around 0.9100 - 0.9110

The area around 0.9100 - 0.9110 capped the upside several times last week and today once again. The mentioned area continues to be a key short term resistance. A break higher could trigger an acceleration, pushing the price to the highest level since January.



EUR/CHF near Monday lows

The Swissy also gained momentum during the last hour versus the Euro. The EUR/CHF erased gains and is trading slightly above 1.2130 and also near Monday’s lows. Last week the pair dropped to 5-month lows at 1.2120, before rebounding. If the pair ends today around 1.2130 it would post the lowest daily close since March.



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