FXstreet.com (Barcelona) - After falling around 110 pips from 1.1360, intra-day high, to test the 1.1250 support level, the USD/CHF has begun to rise after the US opening bell and ISM data released to climb above 1.1300 level. Currently the pair is trading around 1.1315/25 after rising 0.50% so far today from opening price at 1.1260.

U.S. services ISM has increased to 43.7 in April from 40.8 in March, a somewhat better reading than the 42.7 expected by market analysts.

According to Valeria Bednarik, FXstreet.com collaborator, USD/CHF trend is bearish: General trend remains bearish, thus 1.1240 zone has giving some support till now. Clear break under that level will bring further losses for the pair, while only above 1.1350 static zone we could see some upside recovery. Firs confirmation will come with actual candle closing above the 20 SMA now around 1.1285. Support levels: 1.1240 1.1200 1.1158. Resistance levels: 1.1320 1.1350 1.1385.

For more information, read our latest forex news.