FXStreet (Córdoba) - USD/CHF jumped following the Fed decision to raise rates for first time since 2006, but the spike faltered soon after. The Federal Reserve voted unanimously to raise the target range for federal funds to 0.25%-0.50% as widely expected and said only gradual increases are likely. The Fed dot plot showed member projections hasn’t changed since September, with the federal funds rate target at the end of 2016 seen at 1.375% while in the longer-run rates are seen steady at 3.50%. USD/CHF jumped to a high of 0.9912 as the knee-jerk reaction but quickly retraced its advance. At time of writing, the pair is trading at 0.9865, down 0.45% on the day. USD/CHF levels to watch In terms of technical levels, immediate resistances could be found at 0.9922/24 (50-day SMA/Dec 15 high), 0.9945 (Dec 9 high and 1.0030/35 (Dec 4 & 7 highs). On the other hand, supports could be faced at 0.9812 (100-day SMA), 0.9785 (Dec 14 low) and then 0.9755 (Oct 26 low). For more information, read our latest forex news.