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Forex: USD/CHF extends gains and tests Fibo level

FXstreet.com (Córdoba) - Following a short-lived correction, the US dollar resumed the upside and extended its advance versus the Swiss franc, reaching a fresh 3-week high in recent dealings.

Having climbed over 100 pips from daily lows, USD/CHF printed a high of 0.9430 (61.8% retracement of 0.9566/0.9205 drop) and currently trades around 0.9425, where it records a 0.9% gain on the day.

In terms of technical levels, if USD/CHF manages to break decisively above 0.9430 next resistance is seen at the 0.9496/0.9500 zone (Apr 6 high/psychological level). On the other hand, supports on dips could be faced at 0.9320 (10-day SMA), 0.9300 (psychological level) and 0.9275 (Apr 19 low).

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Forex: EUR/GBP's recovery capped at 0.8535, back to 0.8510

After declining from the intra-day high at 0.8567 to reach fresh daily low at 0.8510, the Euro attempted to recover ground against the Sterling with the EUR/GBP bouncing to 0.8535, but the pair was rejected at this level and currently the cross is trading at 0.8515.
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