FXstreet.com (Córdoba) - The Dollar moved away from intra-day high against the Swiss Franc. USD/CHF fell from 1.0224 to 1.0170 and currently trades at 1.0180/85 0.33% above today's opening price action. Greenback is rising for the second day in a row on falling stocks. Immediate support below 1.0170 lies at 1.0140. On the upside, resistance above intra-day high is located at 1.0230/40 and above at 1.0275 (Oct 13 high).
The ecPulse.com analysis team affirms: The dollar versus swissy achieved moving to the upside since this morning, where it halted at horizontal resistance at 1.0195 and is forming the neckline for the bullish technical pattern over an intraday basis. This pattern supports our morning expectations, where it is supposed to push the pair towards achieving more bullish intraday movement so that it could reach possible reversal levels between 1.0260 - 1.0260 and then completing the bearish harmonic pattern, where it should push the pair to achieve a bearish reverse supported by the continuing short term downside direction for the pair, where its primary targets are around 1.0000. Chances of achieving this bearish trend will prevail is resistance 1.0310 is not breached.