27 Jul 2015
USD/CHF erases losses as the Swiss Franc weakens
FXStreet (Córdoba) - USD/CHF recovered lost ground during the American session and climbed back above 0.9600 as the Swiss franc turned lower in the market, weakened by a rally of EUR/CHF.
USD/CHF supported again above 0.9520/30
The pair dropped during the European session and fell to test last week lows located slightly above 0.9520. US dollar found again support at the mentioned level, rebounded modesty and moved sideways afterwards. On American hours, as EUR/CHF rallied above 1.0600, USD/CHF broke above 0.9590 and rose to 0.9620, toward the level it closed on Friday.
Currently it trades at 0.9615/20, marginally lower for the day, but almost a hundred pips above daily lows. The pair continues to move sideways, without a clear trend in the short term. The upside remains limited by 0.9630/50.
Last week USD/CHF finished practically unchanged after hitting a 3-month high at 0.9650. For the coming days, price action could be determined by the outcome of the FOMC statement to be released on Wednesday and is likely to impact the US dollar across the board.
USD/CHF supported again above 0.9520/30
The pair dropped during the European session and fell to test last week lows located slightly above 0.9520. US dollar found again support at the mentioned level, rebounded modesty and moved sideways afterwards. On American hours, as EUR/CHF rallied above 1.0600, USD/CHF broke above 0.9590 and rose to 0.9620, toward the level it closed on Friday.
Currently it trades at 0.9615/20, marginally lower for the day, but almost a hundred pips above daily lows. The pair continues to move sideways, without a clear trend in the short term. The upside remains limited by 0.9630/50.
Last week USD/CHF finished practically unchanged after hitting a 3-month high at 0.9650. For the coming days, price action could be determined by the outcome of the FOMC statement to be released on Wednesday and is likely to impact the US dollar across the board.