USD/CHF is consolidating gains above parity

FXStreet — The currency pair USD/CHF treat themselves on Wednesday after the flight of the last days a little breather and traded in a narrow sideways range. Recently, the US dollar traded on 1,0068 and 6 Pips in the Minus.

The currency pair rose on Tuesday on a new 1-month High at 1,0090 on the basis of a sustainable strength of the Greenbacks — the day it ended on 1,0066. Growing tensions between the United States and North Korea had increased the risk aversion yesterday evening, prompting the Swiss franc was able to narrow down a portion of its losses.

In addition, the U.S. Dollar Index down on Wednesday to focus on consolidation and is now down to 99.50 and 0.05 per cent in the Minus. Today’s economic data from the United States showed that the Import and export prices increased significantly more than expected, but the market reacted to it. Later still, the Fed chief from Boston’s Rosengren will give a speech on monetary policy. This could be the next catalyst for the Pair.

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Technical Outlook

The High of the 09. May 1,0090 offers first resistance. Further barriers are 1,0110 (to the power of 10. April) and 1,0160 (High 09. March). Backups are, however, 1.0000 (psychological mark), 0,9950 (20-day line) and 0,9860 (Deep 04. To find may).

** FXStreet News Editorial, FXStreet**

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