FXstreet.com (Barcelona) - The USD/CHF has risen around 220 pips from 1.1236, breaking the 1.1330 resistance level, to reach a fresh intra-week high at 1.1465. Currently, the pair is trading in the 1.1445/55 band.
Last days, the pair has been traded between the 1.1180/1.1330 channel, but the USD has broken the 1.1330 resistance in the early European session, to be above the 1.1450 level. Along today's trading session, USD/CHF has risen 1.50% from the 1.1271 opening price.
According to Valeria Bednarik, FXstreet.com collaborador, the USD/CHF should go up: After finally broke the range to the upside, the pair trigger and explosive bullish rally. Hourly charts shown a small flag continuation figure, so above first resistance, continuation seems likely for today, despite over bought indicators. Both the 20 SMA and the 200 EMA lie under actual price and will act as support for any corrective movement.
Bednarik provides us with her levels: Support levels: 1.1398 1.1365 1.1310. Resistance levels: 1.1444 1.1482 1.1534.
Nick Nasad, Analyst at CMS, comments us the actual CHF situation: The Swissy has been an interesting currency ever since the Swiss National Bank said that they would and did intervene in the currency markets to weaken the Franc: The USD/CHF has been consolidating since then and how prices react when we reach our channels support and resistance levels will be the main indicator of what the pair will do. I personally think we will see a continuation of our consolidation pattern and should wait to watch price action develop