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USD/CHF loses steam above 0.9600

FXStreet (Córdoba) - The rally of the dollar against the swiss franc inspired by a more hawkish than expected Fed statement, faltered above 0.9600 giving way to a mild correction lower.

As investors continue to assess Fed’s stance, US dollar takes a breather and consolidates near recent highs. USD/CHF reached a 3-week peak of 0.9606 but failed to hold above the psychological level and pulled back toward the 0.9570 zone before finding support. At time of writing, USD/CHF is trading at 0.9575, still up 0.29% on the day.

USD/CHF levels to watch

As for technical levels, USD/CHF could find immediate resistances at 0.9606 (daily high), 0.9624 (Oct 7 high) and 0.9686 (Oct 6 high). On the other hand, supports are seen at 0.9541 (daily low), 0.9518 (21-day SMA) and 0.9500 (psychological level).

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