FXStreet (Córdoba) – USD/CHF continues to consolidate, moving in a small range like most of the currency pairs. Today the Swiss Franc was the best performance among European currencies. Tomorrow the trading session will be shorter and no big changes are expected.
Today the pair opened at 0.9930 and then dropped constantly at a modest pace. It bottomed during the American session at 0.9883 and it was holding near the lows, with a bearish intra-day bias.
Range persists
USD/CHF has established a new trading range, with support at 0.9850 (area that capped the downside last week and on Monday) and resistance at 0.9945/50 (Dec 23 & 29 high). The mentioned range could persist until the end of the year.
Next week, particularly after Monday, volatility is expected to start rising and the range is likely to be challenged. Above 0.9950, the next resistance is seen at 0.9990 (Dec 17 high), while below 0.9850, support might lie at 0.9800/10 (Dec lows).
(Market News Provided by FXstreet)