USD/CHF regains 0.9700

By FXStreet FXStreet (Córdoba) – USD/CHF managed to regain the 0.9700 level after staging a short-lived pullback from daily highs, in a quiet start to an eventful week.

USD/CHF fell to a 12-day low of 0.9666 from where it bounced to a high of 0.9709 during the European session. However, the pair failed to hold at highs too and returned to square one. Unable to determine a short-term direction, USD/CHF is currently trading at 0.9701, up 0.16% on the day.

Major pairs are going through a consolidation phase as investors refrain from taking big positions ahead of the Federal Reserve verdict on Thursday.

USD/CHF levels to watch

As for technical levels, USD/CHF could find immediate resistances at 0.9709/13 (Sep 14 high/10-day SMA), 0.9792 (Sep 11 high) and 0.9823 (Sep 9 high). On the downside, supports are seen at 0.9666 (Sep 14 low), 0.9647 (21-day SMA) and 0.9600 (psychological level).
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Source:: FX Street