FXstreet.com (Barcelona) - After rejecting 1.1487, intra-day high, and falling to 1.1439. USD/CHF has risen around 35 pips to reach 1.1473 and to trade above 1.1450 level. On the day, the pair has risen 0.65% so far today, from opening price at 1.1386 to the currently 1.1460.
Last week, USD/CHF lost 2.50% from 1.1688 Monday opening price, reaching 1.1743 as maximum and 1.1351 as lowest, to close the week at 1.1396 on Friday.
According to Tim Salem, FXstreet.com collaborator, USD/CHF finds bullish momentum: Bullish Sentiment finds significant Corrective Support from the 1.1354 Daily Static Support, as Price clears the Daily 1.1419 Pivot and has 1.1488 Daily Static Resistance in View @ 1.1529. Continuation sees the 1.1530/40 Static Resistance and Hourly 200SMA. If the Area contains Price, a potential of a Double-Bottom is in place with a Re-Test of the 1.1354 Low. Violation sees Resistance met at the 1.1596/1.1600 Figure, and beyond this Level sees Negation of the Downtrend Swing with an Hourly V Bottoming Pattern as Price looks towards the Dynamic 1.1657 Resistance and the Static 1.1718 Levels in the Mid-Term.
Salem provides us with his levels: Support levels: 1.1419 1.1354 1.1311 1.1246. Resistance levels: 1.1488 1.1529 1.1555 1.1596/1.1600 Figure
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