The US Dollar pares previous losses and returns to levels right below 0.9100
A doji candle in the weekly chart and the bearish divergence on intra-day charts suggest the possibility of a deeper correction.
USD/CHF bears need to breach 0.9075 support level.
The US Dollar has retraced previous losses, as news of an Israeli attack on Iran boosted the safe-haven CHF, to consolidate at previous ranges, above the 0.9075 resistance area.
On Friday, Chicago Fed President Austen Goolsbee has reiterated the the lack of progress on inflation and reaffirmed the data-dependant approach on further monetary policy decisions. The Dollar has traded moderately higher following these comments
Fundamentals are Dollar-supportive, as the Federal Reserve is likely to keep rates at high levels for a longer time, while the SNB has cut rates already and is likely to cut them again later this year.
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