FXstreet.com (Barcelona) - After falling from 1.1500 to find support at 1.1357, the USD/CHF has began to rise to reach levels above the 1.1400. Currently, the pair is trading around 1.1430.
Along today's session, USD/CHF is losing 0.65% from the 1.1207 opening price.
According to Valeria Bednarik, FXstreet.com collaborator, USD/CHF is in a correction movement: The pair continues the bearish correction after failure to break the strong congestion zone between 1.1520/40 zone. Bearish trend seems a bit exhausted in the hourly despite 20 SMA remains clearly pointing to the downside along with momentum. Watch for a movement above 1.1410 to confirm upside bias. Under today's low, around 1.1355, the pair could continue falling to next support levels.
Bednarik provide us with her levels: Support levels: 1.1355 1.1320 1.1287. Resistance levels: 1.1402 1.1438