FXstreet.com (Barcelona) - After falling from 1.0365 in the Asian session, the USD/CHF has finally found support at 2-week low at 1.0290 and it has bounced to trade back above 1.0300 and reach levels close to 1.0320. Currently the pair is trading around 1.0315/25, 0.35% below today's opening price action at 1.0345.
Peter Rosenstreich,analyst at ACM, comments: Slowing upside momentum will pressure downside as the pair make lower lows. 1.0354 5dma forms first resistance, with next levels above there at 1.0625, and beyond there the 1.0700 major resistance and 38.2% correction of the move from 1.1970 down to 0.9918. Near term support stands at 1.0296 ahead of 1.0219 low.