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Forex: USD/CHF retests daily lows

FXstreet.com (Córdoba) - The Swiss franc is taking a breather on Wednesday, pausing its decline against the dollar after losing over 400 pips since last week.

USD/CHF reached a fresh 9-month peak of 0.9746 earlier on the day, but reversed gains afterward as the greenback stumbled in the wake of disappointing US data. The cross has dropped over 100 pips throughout the session to retest daily lows at the 0.9645 zone.

At time of writing, USD/CHF is trading around 0.9650, where it is virtually unchanged on the day, with immediate supports at 0.9640 (daily lows) and 0.9600 (psychological level), while resistances line up at 0.9746 (daily high) and 0.9775 (high Aug 17).

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