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16 May 2014
USD/CHF consolidates above 0.8900
FXStreet (Córdoba) - The USD/CHF remains steady on Friday, consolidating moderate weekly gains. Price bottomed on European hours at 0.8897 but then bounced quickly back above 0.8900 and peaked at 0.8923.
Currently trades at 0.8910 unchanged for the day so far, but 40 pips above last Friday closing price. The US dollar is headed toward the second weekly gain in a row, continuing its recovery from 0.8700 but far from the highs. During Thursday the USD/CHF rose to 0.8960, the strongest level of the week but then pulled back.
The retreated from the highs found support above 0.8880 and then price rose back above 0.8900. The USD/CHF continues to hold bullish momentum, facing resistance at 0.8950/60 ahead of 0.9000.
Currently trades at 0.8910 unchanged for the day so far, but 40 pips above last Friday closing price. The US dollar is headed toward the second weekly gain in a row, continuing its recovery from 0.8700 but far from the highs. During Thursday the USD/CHF rose to 0.8960, the strongest level of the week but then pulled back.
The retreated from the highs found support above 0.8880 and then price rose back above 0.8900. The USD/CHF continues to hold bullish momentum, facing resistance at 0.8950/60 ahead of 0.9000.