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Forex: USD/CHF buoyed to 0.9545 high

By FXstreet.com,  January 05, 2011, 07:56:00 AM EDT

FXstreet.com (Barcelona) - The USD/CHF has been trading within a relatively tight range throughout the day, steadily on the rise however as it consolidates above 0.9500 over the European session. The pair most recently shows new bullish momentum, lifting more than 30 pips in the last hour to reach a weekly high in 0.9545.

At time of writing, the USD/CHF remains pegged at its daily peak where it lingers in waiting for further impulse. Immediate resistance is listed at 0.9589 (21-Day MA), 0.9605 (Daily High Dec 28) and 0.9666 (Daily High Dec 23). To the downside, support is placed at 0.9470 (Hourly Low Jan 5), 0.9385 (Daily High Jan 3) and 0.9301 (Record Low Dec 31).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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