USD/CHF rises to fresh 3-week highs amid Yellen

The US dollar is rising sharply in the market boosted by Janet Yellen testimony. USD/CHF climbed from 1.0045 to 1.0084, hitting the strongest level since January 20, the day of Donald Trump inauguration. 

The pair remains near daily highs, holding a bullish tone. The words from Yellen pushed the pair to resume the upside move and gave strength enough to break the 1.0060 resistance. 

Chair Yellen mentioned before the Senate Banking Committee that waiting too long to raise rates is unwise. She spoke about the need for further rate hikes if the economy remains on track. Her words pushed March Fed rate hikes to the upside. 

USD/CHF technical levels 

To the upside, resistance might be seen at 1.0090 (Jan 20 high), 1.0115 (Jan 19 high) and 1.0140. On the downside, support now could be located at 1.0060 (Feb 10 high), 1.0030 (daily low) and 0.9985 (uptrend line).