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USD/CHF – broke next resistance with high 0.9761

FXstreet.com (London) - The pair has been leading the market and has gapped out on the charts this afternoon to break the 0.9700 level on a broad based dollar rally.

The Swissie wasn’t settling for just a 100-pip move on the day and business was being done through the 0.9745 resistances closing an hourly stick with a high of 0.9761. At time of writing, this pair has stepped down a peg on profit taking before the London close to a slight 15 pips above the figure and now trading at 0.9715 again.

The first suggested levels to be tested are the 78.6% correction at 0.9770. A close above the previous resistance levels and above the pivot on the downside brings the next target into play coming as 0.9835. However, the market may wish to collect some more profits in NY and open next week for another go below the figure. Support to the downside comes in with previous resistance zones with a 0.9645 pivot on the hourly chart.

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