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Forex: USD/CHF reaches 3-week high

By FXstreet.com,  January 03, 2013, 07:47:00 AM EDT

FXstreet.com (Córdoba) - The US dollar extended gains into a second day versus the franc on Thursday as euphoria for the US budget deal faded.

USD/CHF took another step higher and broke above the 0.9200 area during the European session, climbing to a 3-week high of 0.9241 before the 200 SMA in 4-hour charts offered resistance. At time of writing, USD/CHF is trading at the 0.9230 area, 0.6% above its opening price.

As for technical levels, next resistances are seen at 0.9240 (intraday high), 0.9275 (Dec 13 high) and 0.9295/0.9300 (55-day SMA/psychological level). On the other hand, supports could be found at 0.9200 (psychological level), 0.9170 (intraday low) and 0.9150 (10-day SMA).




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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