Forex: USD/CHF finds support at 1.0260, back to test 1.0290/1.0300 zone

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FXstreet.com (Barcelona) - The Dollar is rising today against the Swiss Franc and after rejecting at 1.0295, pair has found support at 1.0260 to resume its advance and test again the MA55 hourly chart zone at 1.0290/1.0300. Currently the pair is trading around 1.0285/95, 0.25% above today's opening price action.

Peter Rosentreich, analyst at ACM, comments: USD/CHF USDCHF bounced off the below support between 1.0227/44 but was capped at 1.0300 as remaining longs looked to exit. Continue to expect strong resistance between 1.0284 and 1.0324; with the longer term downtrend still dominating, if we breach 1.0227/44 again look to target 1.0190.

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