FXstreet.com (Barcelona) - The Swiss franc has gained back some ground versus the dollar after the USD/CHF rose to hit a 5-week high at 1.0503, coinciding with a key resistance area that sent the pair edging downwards. After touching a session-low at 1.0446, one US dollar is currently fetching 1.0463 Swiss francs.
The Kshitij Consultancy Service Team sees the pair holding below the 1.0482/1.0502 resistance level, but a break above 1.0502 might see a rise towards the 200-DMA (currently at 1.0548) which is a significant resistance level to be watched for on the upside.
On the low end, the Kshitij team expects rangebound trading with the 1.0420 support level holding firm. However, a break below 1.0420 might pull it down towards 1.038, the team says.