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USD/CHF reaches 5-day high

FXStreet (Córdoba) - Easing geopolitical tensions have boosted stocks and put havens such as the JPY and CHF under mild pressure Tuesday.

The USD/CHF rose for a second day and reached a 5-day peak of 0.9077 at the beginning of the European session, but was rejected from highs and slipped back to the 0.9065 zone. At time of writing, the pair is trading at 0.9070, a few pips above its opening price.

Despite intraday swings, trading remains quite subdued amid low summer volume and ahead of Fed Chair Janet Yellen’s speech at the end of the week in Jackson Hole Wyoming.

USD/CHF levels to watch

As for technical levels, next resistances are seen at 0.9085 (Aug 14 high) and 0.9100 (psychological level) ahead of 0.9114 (Aug 6 high). On the other hand, supports could be found at 0.9060 (20-day SMA), 0.9022 ( Aug 15 low) and 0.9007 (Jul 24 low).

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