9 Jul 2015
USD/CHF: Will it break 0.9515?
FXStreet (Córdoba) - The Swiss franc is falling against the US dollar on Thursday and continues to trade near an important short-term level. USD/CHF currently trades at 0.9485, and it could post the highest daily close in months, but still remain limited.
The pair traded above 0.9500 again today but again the area around 0.9515 capped the upside. Greenback continues to face difficulties in breaking and holding above 0.9500. If it managed to do it, it could open the doors for further gains. But the longer it holds below, odds of a bearish correction will rise.
The technical outlook continues to favor the US dollar in the short term. A break below 0.9430, where an hourly uptrend line stands, should weaken the pair.
USD/CHF: levels above 0.9500
Last week the pair broke and consolidated above 0.9400; since the beginning of the week is testing 0.9500. If it rallies above and surpass 0.9515, the next resistance lies at 0.9540 (May high) and above at 0.9590.
The pair traded above 0.9500 again today but again the area around 0.9515 capped the upside. Greenback continues to face difficulties in breaking and holding above 0.9500. If it managed to do it, it could open the doors for further gains. But the longer it holds below, odds of a bearish correction will rise.
The technical outlook continues to favor the US dollar in the short term. A break below 0.9430, where an hourly uptrend line stands, should weaken the pair.
USD/CHF: levels above 0.9500
Last week the pair broke and consolidated above 0.9400; since the beginning of the week is testing 0.9500. If it rallies above and surpass 0.9515, the next resistance lies at 0.9540 (May high) and above at 0.9590.