USD/CHF Consolidating

USD/CHF continues its sideways trading in today's early European trading hours. The pair has been in consolidation for the past few days gravitating towards 0.9910-0.9940. The pair looks a bit exhausted as there isn't anything that could create volatility. However, later today we have important US data, USD Durable Goods Orders, that may give the pair the needed boost in either directions.

The pair did reach parity, or at least as close as it gets to parity, when USD bulls pushed the price to a high of 0.9998 and then retreated to lower levels. Current market price is beating yesterday's close but it's still not enough to give any impulse to the upside.

If the news are positive then we might see a break above parity, but if they fall below expectations, bears will take advantage and quickly turn the trend in the opposite direction.

First resistance is seen at 1.00, first support is seen at 0.9810.

Chart: USD/CHF D1