FXstreet.com (Buenos Aires) - Swiss Franc remains strong against major rivals, and particularly against Dollar and Euro. USD/CHF has been trading lower after losing the 1.0400 level during Christmas break, and fell to the 1.0130 area, coincident with the 61.8% retracement of the last daily upside rally measured from 0.9913 to 1.0507.
Currently trading around 1.0250, the upside remains capped by the 1.0280 level, 38.2% of the same rally, according to Valeria Bednarik, Fxstreet.com collaborator. Bednarik says despite last days recovery, pair holds a bearish bias as long as under 1.0280, 38.2% retracement of the last daily ascendant rally. Pair needs to close a daily candle above next resistance level, above 1.0320, to revert current perspective. Main support lies at 1.0200, as a break under that level, will likely accelerate the bearish tone, with next support at the 1.0300 area, 61.8% retracement of the same daily rally.