USD/CHF hovering around 0.8970

FXStreet (Córdoba) - After Wall Street opening the USD/CHF fell to 0.8955, hitting a 2-day low but then bounced to the upside, trimming losses. At the moment trades at 0.8975, five pips below Wednesday’s closing price.

The pair moved all day without a clear trend, hovering around 0.8970, with a slightly downside bias for the day, but still above a bullish trendline. The momentum still favors the US dollar on a wider perspective, but the USD/CHF is facing strong resistance below 0.9000.

In the previous two trading days the pair hit fresh monthly highs. Today is making a moderate downside correction.