The Federal Reserve's outlook for near-zero interest rates through late 2014 sent the dollar to a 2012 low against the Swiss franc on Wednesday.

USD/CHF reached a fresh monthly low of 0.9202 from an earlier session high of 0.9337, ending the American session at 0.9214, losing 0.65% on the day.

The Fed said nine of the 17 members expect the bank's benchmark rate to be at or below 0.25% by the end of2013 and 11 see rates at or below 1% by the end of 2014.

At time of writing, USD/CHF is in consolidation mode above 0.9200, last at 0.9220 after trading a 0.9205/30 range intraday. Next resistance is seen at 0.9232, with support at 0.9142 (26 Sept high).

"While just intraweek at this point, it is worth noting that price is below its 13 week average for the first time since September," notes Jamie Saettele, CMT at DailyFX

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