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USD/CHF retreats from 2014 highs

FXStreet (Córdoba) - The USD/CHF erased gains and was headed toward the first decline in three days. Price hit a fresh 2014 high during the European session at 0.9211 but then lost momentum and fell toward 0.9200.

During the American session the US dollar lost momentum versus the Euro and the Swiss Franc, pushing the USD/CHF below the price it had at the beginning of the day. Near Wall Street closing bell it was trading at the lowest level of the day at 0.9187, around the same area it opened the week.

USD/CHF levels to consider

To the upside, the pair is having difficulties holding above 0.9200. Between 0.9210 and 0.9220 is the first resistance area to consider; above the next could be located at 0.9250 (November 2013 highs).

On the downside, immediate support might lie at 0.9180/85 and below here at 0.9160 (August 28 high) and 0.9135.

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