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Forex: USD/CHF reaches fresh 1-month high

The US dollar took another step higher and printed a marginal new high versus the franc during the American afternoon amid Fed's Bullard comments. Bullard (hawkish voting member) said asset purchases could be 'reduced somewhat' as labor markets 'improve somewhat' while he predicted that a rate rise could be possible by June '14.

USD/CHF rose to a high of 0.9331, last seen January 22, and it was last trading up 0.6% on the day at the zone. Above 0.9331 (intraday high), next resistances are seen at 0.9345 (Jan 22 high) and 0.9387 (Jan 18 high). On the downside, supports could be found at 0.9285 (Feb 20 high), 0.9250 (Feb 19 high) and 0.9215 (10-day SMA).

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