USD/CHF reverses from 6-month highs and falls to 0.9070

By FXstreet.com | August 06, 2014 AAA

FXStreet (Córdoba) - The USD/CHF rose during the European session to 0.9113, hitting the strongtes level since January 23. Then stabilized and pulled back sharply following the decline of the USD/JPY.



Recently bottomed at 0.9069, slightly above yesterday's low and then bounced to the upside. At the moment of writing was trading at 0.9075/80, 15 pips below the price it had at the beginning of the day.



USD/CHF unable to consolidate above 0.9100

The USD/CHF for the fifth time out of the last six trading days, rose momentarily above 0.9100 but once again it failed to consolidate. Price is headed toward the seventh daily close in a row around 0.9060 and 0.9090 as it continues to face resistance at 0.9100/10.



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