FXstreet.com (Barcelona) - After testing 1.1400 level before US opening bell, USD/CHF has fallen around 100 pips to reach 1.1300, 3-weeks low. Currently the pair is trading around 1.1315/25 after falling 1.00% so far today from opening price at 1.1438.
Valeria Bednarik, FXstreet.com collaborator, says: Again the pair rebounded at the strong 1.1350 zone as expected. Indicators are losing the oversold state in the hourly, and the pair points for further upside correction, with a first resistance around 1.1410, where we have the 20 SMA with a clear downside slope. Pair needs to regain 1.1440 to confirm further rises in the next hours. Support levels: 1.1350 1.1320 1.1280. Resistance levels: 1.1407 1.1440 1.1496.
According to Anna Coulling, Analyst at Master and Markets, market is focusing on FOMC decision: This evening, the Fed will announce the results of its open-market committee meeting, but isn't expected to depart significantly from the aggressive approach to quantitative easing outlined at its last policy meeting. However its announcement could nonetheless prompt some volatility in foreign-exchange markets.
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