USD/CHF rebounds and rises toward 0.9900 as USD strengthens

By FXStreet FXStreet (Córdoba) – USD/CHF continued to rise after the beginning of the US session. It broke above yesterday’s highs located at 0.9870 and jumped to 0.9908, reaching the highest level since last Thursday.

Deposit the decline the Swiss Franc is among the best performers in Europe. The US dollar gained momentum across the board and is trading at the highest level since the beginning of the week, ahead of tomorrow’s FOMC statement. The US central bank could rise rates for the first time since 2006.

USD/CHF technical levels

Currently USD/CHF trades at 0.9907, 115 pips above daily lows and holding a bullish tone. To the upside, resistance levels might lie at 0.9945 (Dec 9 high) 1.0035 (Dec 4 & 7 high) and 1.0070 (20-day MA). To the downside, support level might now be seen at 0.9865 (Dec 14 US session high), 0.9845 (20-hour MA) and 0.9795 (daily low).

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Source:: FX Street