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13 Aug 2014
USD/CHF rebounds and erases losses
FXStreet (Córdoba) - The USD/CHF recovered the levels it had before the release of the US retail sales data after rebounding at 0.9040, the lowest price in three days. During the American session the pair peaked at 0.9086, after rising more than 40 pips from the lows.
The pair was trading at the same price it had at the beginning of the day, around 0.9070/75.
USD/CHF bullish bit sideways in the short term
To the downside the area around 0.9040 continues to offer support to the US dollar while to the upside it continues to face resistance around 0.9110. Despite moving sideways during the last two weeks, the dominant trend is still bullish.
The pair was trading at the same price it had at the beginning of the day, around 0.9070/75.
USD/CHF bullish bit sideways in the short term
To the downside the area around 0.9040 continues to offer support to the US dollar while to the upside it continues to face resistance around 0.9110. Despite moving sideways during the last two weeks, the dominant trend is still bullish.