Forex: USD/CHF recovers further and tests 1.0360 resistance

  @ibtimes on

FXstreet.com (Barcelona) - The Dollar strengthening against the Swiss Franc has continued in the last hours with the pair recover further from 4-week lo at 1.0240 reached in the early Asian session to break MA55 hourly chart at 1.0305 and MA200 at 1.0340 and test the 1.0360 resistance in a 120 pips bullish movement.

Currently the pair is trading around 1.0345/55, 0.70% above today's opening price action at 1.0275. USD/CHF has been trading in range between 1.0240 and 1.0360 during the current week.

The Kshitij Consultancy Service Team comments: Swiss has risen during the day and is now trading in the Resistance region 1.0330-60. Note that 1.0360 is the 21-DMA (1.0360) which is resisting the pair for the last couple of days. A strong break above the 21-DMA might see further rise towards 1.0430 in the coming sessions. On the other hand if the 21-DMA Resistance continues to hold, we might see a downmove once again towards 1.0280-50. Note that the 200-MA on the 4-hr chart (currently at 1.0253) is the significant Support seen on the downside.

.

Join the Discussion
Nintendo's Newest Kirby Game Is A Total Detour
Nintendo's Newest Kirby Game Is A Total Detour
Fitbit's First Activity Watch Falls Short
Fitbit's First Activity Watch Falls Short
Dying Light Is The Spiritual Successor To 'Dead Island'
Dying Light Is The Spiritual Successor To 'Dead Island'
The Last Mitsubishi Evolution
The Last Mitsubishi Evolution
The i8 Is Proof BMW Should Make More Mid-Engined Cars
The i8 Is Proof BMW Should Make More Mid-Engined Cars
QD Vision Shows Off Cheap 4K TVs
QD Vision Shows Off Cheap 4K TVs

More Video