10 Jul 2015
USD/CHF back above 0.9400; Still bearish?
FXStreet (Córdoba) - USD/CHF dropped sharply during the European session but then rebounded and trimmed losses. The pair peaked on American hours at 0.9422, and it remains above 0.9400, as Janet Yellen ends its exposition.
Earlier the US dollar reached a 1-week low at 0.9329 before rebounding. So far the pair is having the worst day for July.
USD/CHF outlook
The pair broke below a short term uptrend line before accelerating to the downside. The recent recovery could have been a corrective pulled back. In the short term the pair now appears to favor the downside, but still limited. Support levels are seen at 0.9360, 0.9330 (daily low) and 0.9290.
Today’s bearish movements came after USD/CHF failed to rally above 0.9515. The area around 0.9500 remains a key level to break in order for the US dollar to rise further.
Earlier the US dollar reached a 1-week low at 0.9329 before rebounding. So far the pair is having the worst day for July.
USD/CHF outlook
The pair broke below a short term uptrend line before accelerating to the downside. The recent recovery could have been a corrective pulled back. In the short term the pair now appears to favor the downside, but still limited. Support levels are seen at 0.9360, 0.9330 (daily low) and 0.9290.
Today’s bearish movements came after USD/CHF failed to rally above 0.9515. The area around 0.9500 remains a key level to break in order for the US dollar to rise further.