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Forex: USD/CHF breaks above resistance to retest session highs

FXstreet.com (Barcelona) - The USD/CHF has sailed ahead Friday, helped in part by a debilitating weakness of the EUR during European trading. In these moments the cross is looking to retest its session highs following a short-term easing that retraced back to 0.9545. At the time of writing the cross is trading at 0.9578/82, up +0.97% on the day.

According to the ICN.com Technical Analyst Team, “The USD/CHF moved to the upside now above key resistance level of the descending channel, which might extend the upside move during the upcoming period. Trading above 0.9385 might move the pair towards 61.8% correction at 0.9610 levels.”

After moving above resistance at 0.9562, the Mataf.net analyst team identifies short-term resistances for the USD/CHF at 0.9622, then 0.9736. Conversely, the pair is slated to encounter supports at 0.9388, then 0.9274, and ultimately 0.9214.

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