Wed, 05 Jan 2011 22:55:00 +0100

Forex: USD/CHF rose more than 100 pips for the second day in a row

FXstreet.com (Córdoba) – The Swiss Franc fell sharply across the board on Wednesday. USD/CHF rose more that a hundred pips for the second day in a row, extending its recovery from record lows. The pair peaked at 0.9683 during the American session, hitting the highest price in two weeks.

The pair gained momentum and jumped above 0.9525, following a better-than-expected report on US jobs, rising 150 pips in 4 hours.

According to the FXMarkets Alerts Team the USD/CHF has been temporarily blocked at the 50% retracement and this will give little time to consolidate before the next move that could send the pair upside to 0.9700/33. Support is seen around 0.9580/60.


The Swiss Franc also fell sharply against the Pound and the Euro. GBP/CHF jumped to 1.4990 and has risen more than 440 pips since the beginning of the week. EUR/CHF also gained ground for the second day in a row and reached 2-week highs at 1.2725.

Technical Analysis (2011-01-05 21:45 GMT)
USD/CHF 0.9658/0.9659 - O: 0.9347 H: 0.9354 L: 0.9343 C: 0.9347
Trend	R3: 0.9709
	R2: 0.9685
	R1: 0.9661
	S1: 0.9610
	S2: 0.9634
	S3: 0.9658