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21 Apr 2014
USD/CHF climbs to 0.8850
FXStreet (Córdoba) - The USD/CHF broke above 0.8835/40 and rose to 0.8851 hitting the highest price since April 8. Greenback strengthened across the board in the last hour, pushing the USD/CHF to the upside. The Swiss Franc is among the worst performers so far on Monday.
Last week the USD/CHF finished with gains but the upside was capped twice at the 0.8835/40 area, that was recently broken. Earlier today the pair moved to the downside but found support at 0.8815/20 from where it turned and reversed.
Technical outlook for the USD/CHF
On the short term the pair holds bullish momentum but on a wider perspective the main trend still favors the downside. If price continues to rise, above 0.8850 the next resistance lies at 0.8870/80 and then 0.8900 (March 28 high).
To the downside support levels might lie at 0.8820 (daily low) and below here at 0.8800/05 (ascendant trendline from April lows).
Last week the USD/CHF finished with gains but the upside was capped twice at the 0.8835/40 area, that was recently broken. Earlier today the pair moved to the downside but found support at 0.8815/20 from where it turned and reversed.
Technical outlook for the USD/CHF
On the short term the pair holds bullish momentum but on a wider perspective the main trend still favors the downside. If price continues to rise, above 0.8850 the next resistance lies at 0.8870/80 and then 0.8900 (March 28 high).
To the downside support levels might lie at 0.8820 (daily low) and below here at 0.8800/05 (ascendant trendline from April lows).