Forex: USD/CHF above 1.0200

20 November 2009 @ 07:56 am EDT

FXstreet.com (Buenos Aires) - Mounted on dollar strength, USD/CHF break above 1.0200 level that has been capping the upside for a whole week, now attempting to hold it. After hitting an intraday high at 1.0222, pair is consolidating gains.

According to Valeria Bednarik, "if the pair manages to hold current 1.0200 area, rally likely to extend to next key resistance level at 1.0240 and above, to 1.0285, as 4 hours charts show further upside strength after price break above 200 EMA. Pullbacks should hold above 1.0185 to keep the bias valid; under that level, supports for next hours come at 1.0165, and 1.0130 area."

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