by Thu, 19 Aug 2010 03:08:00 +0200
Forex: USD/CHF hits resistance at 1.0440
FXstreet.com (Barcelona) - The US dollar strengthened overnight on persistent risk aversion, causing the USD/CHF to jump 20 pips before running into firm resistance at the 1.0440 mark. Since, the pair has consolidated slightly to the downside, trading 1.0435 at time of writing yet remains in range to break higher.
“USDCHF is struggling in a battle between both market forces (bulls and bears) the instrument has a trading range to break” says the 4X EagleEye Analysis Team. “Any four hours close above (1.05203) will open the way for a little push upward to test the resistance level at (1.05527), and a four hours close below (1.03193) will let the instrument test the next support level at (1.02847).”
| Technical Analysis (2010-08-19 00:45 GMT) | |
|---|---|
USD/CHF 1.0435/1.0438 - O: 1.0512 H: 1.0514 L: 1.051 C: 1.0513 | |
| Trend | R3: 1.0477 |
 | R2: 1.0451 |
| R1: 1.0425 | |
| S1: 1.0361 | |
| S2: 1.0387 | |
| S3: 1.0413 | |
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