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Forex: USD/CHF in session highs above 0.9500

The cross quickly left behind the key resistance at 0.9500 on Wednesday, boosted by the upbeat data from the US retail sales, trading at the moment in the upper end of today’s range around 0.9525/30

According to I.Spivak, Currency Strategist at DailyFX, “Prices slipped back below the 50% Fibonacci retracement at 0.9496, with negative RSI divergence warning a pullback maybe ahead. Near-term support is at 0.9426, with a break below that targeting 0.9349. Alternatively, a push back above 0.9496 eyes the March 8 high at 0.9551 and the 61.8% retracement at 0.9608”.

As of writing, the pair is up 0.56% at 0.9527 facing the next resistance at 0.9552 (high Mar.8) ahead of 0.9581 (high Sep.7 2012) and then 0.9598 (high Sep.6 2012).
On the downside, a break below 0.9430 (low Mar.13) would bring 0.9420 (MA200d) en route to 0.9410 (low Mar.7).

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