FXstreet.com (Córdoba) - Dollar fell to 1.0150 during the Asian session against the Swiss Franc. USD/CHF then recovered and rose to test the resistance zone at 1.0200. If the pair rises further the next resistance lies at 1.0230 (Oct 19 high / Oct 8 and 12 lows) and above at 1.0275 (Oct 13 high). Currently it trades at 1.0192/95, 0.05% above today's opening price and is rising for the third consecutive day.
The ecPulse.com analysis team affirms: The pair is still attempting to correct in a bearish wave; however, it was not able to complete it, where the stochastic seems to show overbought signs alongside the ADX index; where the bullish direction has started breaking down over an intraday basis, forcing the pair to fall into this correctional wave. The resistance 1.0215, could be able to make the pair reverse to the downside in a new attempt to regain some bullish momentum and get rid of the overbought signs, to start the daily upside rebound that might not be achieved before the mentioned bearish correction.