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May 27, 2013
USD/CHF trading at intraday highs at 0.9634/37
FXstreet.com (Barcelona) - The USD/CHF has been in an intraday uptrend since the onset of US trading Monday, rebounding off the 0.9591 level (session low).
At the time of writing, the pair is operating at 0.9634/37, en route to an ascension of +0.17% above its opening. “The overall upside trend remains valid but the end of the bearish correction hasn't yet been confirmed, which is why we expect to see more bearish movement this week.” warns the ICN.com technical analyst team.
According to the Research Analyst Gareth Berry at UBS, “The USD/CHF is still on a bullish course Monday, as the recent weakness does not change the broader bullish picture and major support is at 0.9543. Resistance is at 0.9717 ahead of 0.9839.
At the time of writing, the pair is operating at 0.9634/37, en route to an ascension of +0.17% above its opening. “The overall upside trend remains valid but the end of the bearish correction hasn't yet been confirmed, which is why we expect to see more bearish movement this week.” warns the ICN.com technical analyst team.
According to the Research Analyst Gareth Berry at UBS, “The USD/CHF is still on a bullish course Monday, as the recent weakness does not change the broader bullish picture and major support is at 0.9543. Resistance is at 0.9717 ahead of 0.9839.