- USD/CHF hits fresh monthly highs at 0.9843 on strong USD, rallying nearly 200 pips from yesterday’s steep fall
- The pair has resumed its uptrend after a brief reversal seen yesterday, and is on track to takeout the 0.99 handle
- USD index rose sharply higher to 96.73, recording a 0.65% gain on the day after Yellen’s comments kept USD bulls on fire
- Heavy losses in the single currency also weighed on the CHF, adding to the upside in USD/CHF
- The price is looking heavy at the top, daily Stochs are in oversold territory, unwinding in the short is on the charts
- The pair is currently trading at 0.9822, with immediate support is 0.9781 (session lows Sept 25), while resistance on the upside is seen at 0.9883 (Aug 7 highs)
- Focus now on US Q2 GDP data due later in the U.S. session for fresh incentives
The material has been provided by InstaForex Company – www.instaforex.com