8 Jul 2015
USD/CHF waiting near 0.9500 for the FOMC minutes
FXStreet (Córdoba) - USD/CHF dropped during the European session toward 0.9400 but then rebounded and climbed to test yesterday’s highs. Traders are waiting for the FOMC minutes that will be released at 18:00 GMT.
From low to highs in 2 hours
The pair bottomed a t0.9407, the lowest level in two days but then bounce to the upside and rose quickly above 0.9500. Greenback was unable to break above yesterday’s highs that lie at 0.9515 and lost strength. Currently trades at 0.9475, slightly above the level it closed on Tuesday.
USD/CHF outlook
The pair continues to trade with an upside bias in the medium term. Since Friday is moving sideways in a range with support above 0.9400 while to the upside, it traded above 0.9500 several times but it continues to fail to confirm a break of the mentioned zone.
The bullish tone still prevails but a decline below 0.9400 could open the doors for a bearish correction.
From low to highs in 2 hours
The pair bottomed a t0.9407, the lowest level in two days but then bounce to the upside and rose quickly above 0.9500. Greenback was unable to break above yesterday’s highs that lie at 0.9515 and lost strength. Currently trades at 0.9475, slightly above the level it closed on Tuesday.
USD/CHF outlook
The pair continues to trade with an upside bias in the medium term. Since Friday is moving sideways in a range with support above 0.9400 while to the upside, it traded above 0.9500 several times but it continues to fail to confirm a break of the mentioned zone.
The bullish tone still prevails but a decline below 0.9400 could open the doors for a bearish correction.