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USD/CHF edges above 0.8950
The USD/CHF was not able to get past 0.8950 yesterday, but it has just edged above that level a short while ago. The USD/CHF peaked yesterday at 0.8949 and later closed in the US at 0.8944. It has just now reached 0.8959. As noted in prior updates, the trend for this pair is still northbound and that has been endorsed by the SNB last week, when they delivered a surprise 0.50% rate cut. So, the dollar has just pushed above the November 22 high, at 0.8957. There is minor resistance in place now at 0.8979 and thereafter at 0.9000 and that could be a tough one for the dollar to crack. The low seen earlier today was set at 0.8930. It is currently trading at 0.8955
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