17 Feb 2015
USD/CHF reverses after reaching 1-month highs
FXStreet (Córdoba) - USD/CHF dropped toward 0.9300 after reaching earlier at 0.9365 the strongest level since January 15. The pair erased all gains in a few hours and is now testing the 0.9300 area.
Greenback weakened across the board as stocks rebounded. The Swiss franc is falling against the euro while versus the pound has been able to erase losses.
USD/CHF technical outlook
The pair is testing an uptrend line originated last week, that currently stands around 0.9290-0.9300; a break lower could trigger an acceleration of the downside while if it holds on top, it could rebound. To the upside, the pair continues to be unable to consolidate above 0.9330/40, that is becoming an important short term resistance.
Greenback weakened across the board as stocks rebounded. The Swiss franc is falling against the euro while versus the pound has been able to erase losses.
USD/CHF technical outlook
The pair is testing an uptrend line originated last week, that currently stands around 0.9290-0.9300; a break lower could trigger an acceleration of the downside while if it holds on top, it could rebound. To the upside, the pair continues to be unable to consolidate above 0.9330/40, that is becoming an important short term resistance.