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USD/CHF reverses and approaches last week highs

FXStreet (Córdoba) - USD/CHF rebounded at 0.9640 and turned to the upside, accelerating during the last hours. Recently reached at 0.9738 the highest level since last Wednesday. Price is above the level it had before the FOMC decision of last week.

A stronger US dollar across the board and particularly against European currencies pushed USD/CHF to the upside. Greenback was not affected by the US existing home sales report that missed estimates during August.

USD/CHF technical levels

From Friday’s highs, USD/CHF has risen more than 200 pips making a strong reversal, after being rejected from levels under 0.9600.

To the upside, potential resistance levels might lie at 0.9760/65 (last week highs), 0.9795 (Sep 11 high) and 0.9820/25 (Sept 8, 9 highs). On the opposite direction, support might now be located at 0.9685, 0.9655 and 0.9590.

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