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USD/CHF consolidates below 0.9700

FXStreet (Córdoba) - The Swiss franc reached fresh highs against the US dollar during the American session but is headed toward the lowest weekly close in a year. USD/CHF bottomed at 0.9672, then bounded to the upside but found resistance below 0.9700 and fell back toward the lows.

Greenback lost ground on Friday across the board weakened after the US employment report and trimmed weekly gains. The Swiss franc rose against the pound and the euro and was about to end Friday near weekly highs.

USD/CHF retreats but holds bullish long term momentum

On Friday the pair pulled back below the key 0.9690 - 0.9700 area showing some signs of exhaustion but the main trend continues to favor the US dollar. USD/CHF is about to post the third weekly gain in a row.

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