USD/CHF falls sharply to test 1.0000 after FOMC and Yellen

The US dollar dropped sharply across the board after the decisions of the Federal Reserve to raise rates as expected. The updated projections were little changed from the December report. The greenback extended the slide during Janet Yellen press conference. 

USD/CHF fell almost a hundred pips in a few minutes. After trading sideway since the beginning of the week between 1.0105 and 1.0060, the pair broke decisively to the downside and tumbled to test 1.000. 

FOMC did not flag any plan to accelerate the pace of monetary tightening - RTRS

So far it has been able to hold on top. The pair bottomed at 1.0000 and bounced modestly to the upside. Price still remains under pressure with the US dollar holding a strong bearish momentum. 

Technical levels 

To the downside, support could be seen at 0.9965 (Feb 16 low), 0.9925/30 (Feb 8 low) and 0.9900. To the upside, resistance now might be seen at 1.0045 (Feb 27 low), 1.0060 (Mar 13 low) and 1.0105 (daily high).