FXStreet (Córdoba) – USD/CHF rebounded sharply during the last hours and trimmed losses. At the beginning of the American session bottomed at 0.9666, reaching the lowest since Monday but then turned to the upside climbing almost a hundred pips.
USD/CHF: Correction over?
The pair changed the intraday bias as it rose back above the hourly 20-SMA, that stands at 0.9750. Price reached 0.9760 and at the moment is trading at 0.9755, down 0.39% for the day.
The Swiss franc and the euro were the top performer on Thursday but lost strength during the last hours. So far, emerging market area outperforming European currencies in Wall Street.
USD/CHF levels to watch
To the upside, imminent resistance might be seen at 0.9770, 0.9790 and 0.9805 (daily high). On the flip side, support could be located at 0.9730, 0.9690 and 0.9665 (daily low).
(Market News Provided by FXstreet)