USD/CHF hits levels under 1.0000 and rebounds

FXStreet (Córdoba) - USD/CHF dropped sharply amid a decline of the US dollar across the board and printed a fresh daily low at 0.9988, the weakest level since last week NFP report. The pair rebounded quickly from under parity and currently is trading at 1.0020/30, still down for the day but far from the lows.

Volatility increased across financial markets, ending hours of calm and limited price action. Greenback dropped in the market in a few minutes but then recovered most of the losses.

USD/CHF: Will it keep the range?

Since the beginning of the week USD/CHF has been trading in a range above the parity level, with the upside facing resistance at 1.0085 and with support at 1.0020/30. A significant close below 1.0020 would weaken the US dollar opening the doors for a bearish correction. On the upside, above 1.0085 the pair is likely to resume the rally.