FXStreet (Córdoba) – USD/CHF dropped during the European session and bottomed t 0.9298, the lowest level since Wednesday but bounce back toward 0.9350. Currently the pair is gaining bullish momentum as the US dollar rises across the board.
On Friday, the Swiss franc is the best performer among European currencies. Against the Euro trades at the highest since the beginning of the month while versus the pound is recovering some ground after falling to 3-month lows yesterday.
USD/CHF retreat and upside limited
The pair is consolidating important weekly gains. A week ago it was trading below 0.9200 and now is about to end on top of 0.9350, near the 0.9400 area that continues to offer resistance. A break higher could open the doors for further gains.
On the downside the immediate support level to consider is now the 0.9300 area. On a wider perceptive, there are two key support levels 0.9140 (June 18, 22 lows) and 0.9075 (May lows).
(Market News Provided by FXstreet)