FXstreet.com (Barcelona) - The Dollar has bounced up accross the board but, according to the ActionForex Technical Team it was most apparent against the Swiss Franc: USD/CHF was supported above 1.0338 support and rebounds strongly in early US session. Break of 1.0535 minor resistance indicates that in intraday low is in place and price actions from 1.0623 is probably just consolidation to the rise from 0.9995 only.

On the way up, next resistance levels, according to the ActionForex Team, stand as follows: break of 1.0623 resistance will confirm that whole rebound from 0.9634 has resumed for 1.0890 support turned resistance. Nevertheless, note that bearish divergence condition in 4 hours MACD and RSI argues that a short term top might be around the corner and the current rally could be limited below 1.0890.