21 Jul 2015
USD/CHF corrects lower after rising during three days
FXStreet (Córdoba) - The Swiss franc is about to post the first daily gain versus the US dollar since last Wednesday. USD/CHF posted yesterday the highest close since April and today corrected lower after a 3-day rally.
A weak greenback pushed the pair to the downside. On Asian hours it failed to break above 0.9650 and turned to the downside. It bottomed after Wall Street opening bell at 0.9558 (2-day low) and then rebounded. Near the end of the US session it is trading at 0.9580/85, 50 pips below the level it had at the beginning of the day.
USD/CHF technical level
To the upside, immediate resistance lies at 0.9595, 0.9630 and 0.9650. On the opposite direction support could be located at 0.9555, 0.9515 (July 7, 9 highs) and 0.9470 (July 6 high).
A weak greenback pushed the pair to the downside. On Asian hours it failed to break above 0.9650 and turned to the downside. It bottomed after Wall Street opening bell at 0.9558 (2-day low) and then rebounded. Near the end of the US session it is trading at 0.9580/85, 50 pips below the level it had at the beginning of the day.
USD/CHF technical level
To the upside, immediate resistance lies at 0.9595, 0.9630 and 0.9650. On the opposite direction support could be located at 0.9555, 0.9515 (July 7, 9 highs) and 0.9470 (July 6 high).