Monday, 29 June 2009

Forex: USD/CHF rises 70% so far today to test 1.0900 level

Mon, Jun 29 2009, 08:29 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) - Dollar is rising against the Swissy today's session recovering from 1.0797 last Friday's low to post today 1.0898 as fresh intra-day high. USD/CHF has risen 0.70% so far today from opening price at 1.0832 to the current 1.0880/90.

According to Tim Salem, FXstreet.com collaborator, USD/CHF is slightly bullish: "Neutral to slightly Bullish Hourly Sentiment is Seen as Price works through and Accumulating Range of 1.0798 Daily Static Support to 1.0913 Daily Static Resistance, where if Seen, a potential 20SMA/200SMA Bullish Cross may be seen as RSI Slope and Readings at “56” looks for Price towards the 1.0948 Daily Static Resistance Level. Continuation sees the 1.1005 Resistance Level for a potential Hourly Triple-Top Formation if the Level is Held. Depreciation sees 1.0798 Daily Static Support through to 1.0763 and 1.0706 where RSI Readings and Slope will be Oversold, as Price reaches for Basing Behavior at the 1.0650’s Area."

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