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6 May 2013
Forex: USD/CHF moves off highs
FXstreet.com (Córdoba) - After reaching a daily high of 0.9379 underpinned by broad dollar strength, USD/CHF turned lower and retraced gains in a quiet Monday session.
However, the setback of the Swissy versus the dollar was contained by the 20-hour SMA around 0.9360, confining the cross to a consolidation phase. At time of writing, USD/CHF is trading around 0.9370, still up 0.2% on the day.
In terms of technical levels, on the upside next resistances are seen at 0.9380 (daily high) and 0.9400 (high May 3) followed by 0.9430 (high Apr 29). On the other hand, supports could be found at 0.9300 (psychological level) and 0.9265 (low May 2).
However, the setback of the Swissy versus the dollar was contained by the 20-hour SMA around 0.9360, confining the cross to a consolidation phase. At time of writing, USD/CHF is trading around 0.9370, still up 0.2% on the day.
In terms of technical levels, on the upside next resistances are seen at 0.9380 (daily high) and 0.9400 (high May 3) followed by 0.9430 (high Apr 29). On the other hand, supports could be found at 0.9300 (psychological level) and 0.9265 (low May 2).