May 15, 2013
Forex: USD/CHF opens in London testing 0.9700
FXstreet.com (London) - The Swissie seems to be the lead pair in the recent dollar onslaught with the couple now opening and trading in London over 120 pips higher that the key resistance levels of yesterday of 0.9550 and through the figure 0.9600, printing an enormous high of 0.9697. Chart formations confirm that there is momentum behind this pace and a series of flag formations on the daily charts are giving bullish signals that traders can use to mark against continued sentiment and fundamentals in the case for a stronger dollar. In the London open, the market is testing July 27th lows 0.9691 for the figure 0.9700 and a close above 0.9640 fuels a technically bullish case for higher highs and lows towards 0.9743 and parity. Support 0.9629, 0.9597 and 0.9545.