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9 Jun 2014
USD/CHF rises to 0.8980
FXStreet (Córdoba) - The USD/CHF bounced to the upside on European hours and extended daily gains during the American session. Recently the pair reached a fresh daily high at 0.8979.
The US dollar holds momentum against European currencies, among them the Swiss Franc is the worst performer.
USD/CHF reversal
After bottoming at 0.8918, turned sharply to the upside, climbing 60 pips in 8 hours, gains that were enough to erased Thursday’s losses. If it continues to rise it could face resistance around 0.8980 and then at 0.9000. To the downside, immediate support could be located at 0.8950 and then at 0.8918/20 (daily lows); then followed by the key 0.8900 level.
The US dollar holds momentum against European currencies, among them the Swiss Franc is the worst performer.
USD/CHF reversal
After bottoming at 0.8918, turned sharply to the upside, climbing 60 pips in 8 hours, gains that were enough to erased Thursday’s losses. If it continues to rise it could face resistance around 0.8980 and then at 0.9000. To the downside, immediate support could be located at 0.8950 and then at 0.8918/20 (daily lows); then followed by the key 0.8900 level.