FXstreet.com (Barcelona) - The Dollar is rising against the Swiss Franc during today's European session after finding support at 1.0190, coming from 1.0220, to start to rise around 50 pips to hit intra-day high at 1.0240 and approach to 2-weeks high at 1.0250.
Currently the pair is trading around 1.0210/20, 0.05% above today's opening price action at 1.0210.
The Kshitij Consultancy Service Team comments: Immediate Resistance is seen at 1.0250, a break above which might see a rise towards 1.0280-0300 in the US session today. Note that 1.0292 is the 61.8% retracement level of the fall from 1.0452 (01-Oct) to 1.0034 (21-Oct). And the projected Max-High for the day is 1.0281. The chances of a rise towards 1.0300 is looking high as there is lack of strength on the downmove. However, if the Resistance at 1.0250 holds, a strong break below 1.0200 might pull it down towards 1.0150-30.