USD/CHF consolidates at 2-week highs

By FXStreet FXStreet (Córdoba) – Following a consolidation phase below 0.9700, USD/CHF picked up momentum at the beginning of the American session and climbed to fresh 2-weeks lows as risk appetite was lifted by ECB Draghi.

USD/CHF broke above the 0.97 mark and rose as high as 0.9770 before finding resistance. At time of writing, the pair is trading at 0.9760, recording a 0.74% gain on Thursday.

Pairs might now go through a consolidation phase as investors gear up for next risk event, the US nonfarm payrolls due tomorrow.

USD/CHF key levels

In terms of technical levels, next resistances could be found at 0.9795/0.9800 (Aug 18 high/psychological level) and 0.9821 (Aug 5 high). On the flip side, supports are seen at 0.9681 (Sep 3 low) and 0.9665 (20-day SMA).
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Source:: FX Street