USD/CHF threatens 0.9100

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The USD/CHF rose further and printed fresh 6-month highs, lifted by better-than-expected US GDP, which grew at the strongest pace since 2003.



The US GDP rose 4.0% in Q2 versus 3.0% expected. Data also showed inflation (measured by PCE) inched above the Fed's 2% target for the first time since early 2012.



The USD/CHF climbed to a fresh 6-month peak and managed to taste the 0.9100 psychological level before pulling back slightly. At time of writing, the pair is trading at 0.9095, 0.30% above its opening price.

USD/CHF levels to watch



As for technical levels, if the USD/CHF breaks decisively above 0.910, next resistances are seen at 0.9134 (Jan 23 high) and 0.9156 (jan 21 high). On the flip side, supports could be found at 0.9034 (Jul 29 low), 0.9000 (psychological level) and 0.8970 (Jul 21 low).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/CHF Technical Analysis: Franc Down to 28-Month Low

  2. Forex News

    USD/CHF consolidates around 0.9800

  3. Forex News

    USD/CHF steadies around 0.98

  4. Forex News

    USD/CHF moves away from 2-yr High

  5. Forex News

    USD/CHF Technical Analysis: Probing Above 0.98 Figure

Trading Center