USD/CHF clings to 0.9650 after hitting 1-month lows

USD/CHF fell to fresh 1-month lows on Tuesday as the greenback continues to underperform as hopes for a rate hike diminished following Yellen’s speech on Monday.

USD/CHF bottomed out at 0.9644, marking its lowest level since May 5, and with the subsequent bounce capped by the 0.9690 region and in the absence of economic news, the pair has been confined to a range over the last hours. At time of writing, the pair is trading at 0.9655, recording a 0.49% loss on the day.

USD/CHF levels to consider

In terms of technical levels, next supports are seen at 0.9644 (Jun 7 low) and 0.9600 (psychological level). On the other hand, resistances could be found at 0.9713 (Jun 7 high), 0.9775 (Jun 6 high) and 0.9815 (100-day SMA).