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Forex: USD/CHF closes the week at 2-week highs

By FXstreet.com,  May 04, 2012, 04:44:00 PM EDT

FXstreet.com (San Francisco) - After jumping around 70 pips from 0.9115 to break 0.9160 resistance and reach the highest level since April 19th at 0.9183, the USD/CHF has been trading in consolidation mode in the last hours of the week.

Currenlty the pair is pricing at 0.9178, 0.50% above today's opening price action. The pair seems "Slightly Bullish" and "Extremely Oversold" according to the FXstreet.com Technical Studies.

Resistances come at 0.9196 (high Apr.19) then 0.9205 (MA100d) and 0.9207 (Upper Bollinger). On the flip side, a dip below 0.9115 (lows May 3/4) would expose 0.9105 (MA10d) then 0.9099 (high May 1) and 0.9076 (low May 2).




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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