17 Jun 2015
USD/CHF drops sharply toward 0.9200 after FOMC and Yellen
FXStreet (Córdoba) - Greenback weakened sharply after the Fed decision to leave rates unchanged and following Janet Yellen initial remarks that pointed out that current economic conditions do not warrant yet a rate hike. USD/CHF dropped from 0.9270 to 0.9207, hitting the lowest level in a month.
The pair remains under pressure trading near the lows, as Yellen speaks with journalists. According to FOMC projections the Fed is on its way to raise rates by a half points this year and to a lower growth than previously estimated.
USD/CHF break last week lows
From a technical perspective price is breaking an important support level located around 0.9230/40, where last week lows lie. A consolidation below could open the doors for a test of May lows that lie at 0.9060/70.
On the upside, greenback could remover bearish pressure if it manages to raise above the key 0.9230/40 short-term level.
The pair remains under pressure trading near the lows, as Yellen speaks with journalists. According to FOMC projections the Fed is on its way to raise rates by a half points this year and to a lower growth than previously estimated.
USD/CHF break last week lows
From a technical perspective price is breaking an important support level located around 0.9230/40, where last week lows lie. A consolidation below could open the doors for a test of May lows that lie at 0.9060/70.
On the upside, greenback could remover bearish pressure if it manages to raise above the key 0.9230/40 short-term level.