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May 9, 2013
Forex: USD/CHF rally pauses ahead of 0.9500
FXstreet.com (Córdoba) - Amid persistent USD strength, USD/CHF managed to break above the 0.9420 level and staged an impressive rally that took the pair 90 pips higher in a matter of minutes.
USD/CHF rose to a high of 0.9498, roughly the same level where it peaked on Apr 24, before easing a tad. At time of writing, USD/CHF is trading at the 0.9480 region, 1.5% above its opening price.
If the cross breaks decisively above 0.9500, next resistance might be faced at 0.9525 (Apr 4 high). On the downside, 0.9420/30, former resistance area, is immediate support level in line.
USD/CHF rose to a high of 0.9498, roughly the same level where it peaked on Apr 24, before easing a tad. At time of writing, USD/CHF is trading at the 0.9480 region, 1.5% above its opening price.
If the cross breaks decisively above 0.9500, next resistance might be faced at 0.9525 (Apr 4 high). On the downside, 0.9420/30, former resistance area, is immediate support level in line.