FXStreet (Córdoba) – USD/CHF bottomed earlier at 0.9666 and then bounced to the upside, reaching 0.9717 during the American session but it failed to hold and now is moving toward daily lows.
The pair was rejected from above 0.9700 and continues to move with a downside bias in the short-term. Price was unable to consolidate above 0.9710 where a key short-term level is located and dropped below.
Currently trades at 0.9680/85, marginally below the level it closed on Friday, headed to the fourth daily decline in a row.
CHF recovering vs EUR, GBP
The Swiss franc is among the top performer in Europe on Monday. It is rising also versus the Euro and the Pound. GBP/CHF is pulling back below 1.5000 and reached at 1.4913, a 6-day low while EUR/CHF retreated further and bottomed at 1.0937 after hitting on Friday 1.1048.
(Market News Provided by FXstreet)