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Forex: USD/CHF breaks the figure 0.9400 but may find heavy resistance

FXstreet.com (London) - The Swissie has benefitted greatly and has moved up sharply above 0.9400 psychological level moving up some 75 pips.

There have not been any news releases other than the initial jobless which came in pretty much in line, with a slightly more positive number 323k against 325k consensus. The dollar has been taken up across the board and stops and resistances taken out in many other majors. The Swissie still has some way to go yet to prove that the descending trend line is not in tact, established from the double top earlier on in the month on the daily chart. Mataf.net analysts point to resistive means for the USD/CHF now at 0.9444, and ultimately 0.9470.

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