USDCHF - Tough resistance
USDCHF - short term bearish bias
The US dollar's two-week-long rally came to a halt at the October highs around 1.0025. We may expect a pull back for the next few days as longs take some chips off the table. This would be the first retracement after the faster MA crossed above the slower one, a sign that buyers may have taken control of the action. The immediate support level can be found at the moving averages, while 0.9880 would be a major level to maintain the medium-term uptrend.
Key support: 0.9930
Key resistance: 1.0020
The US dollar's two-week-long rally came to a halt at the October highs around 1.0025. We may expect a pull back for the next few days as longs take some chips off the table. This would be the first retracement after the faster MA crossed above the slower one, a sign that buyers may have taken control of the action. The immediate support level can be found at the moving averages, while 0.9880 would be a major level to maintain the medium-term uptrend.
Key support: 0.9930
Key resistance: 1.0020
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