FXstreet.com (San Francisco) - The Dollar has finally broken the 0.9765 resistance and it has reached the highest level since December 2010. In a 100 pips bullish movement from 0.9695, the USD/CHF has been rising after the US opening bell to reach fresh 19-month high at 0.9790.
Currently the pair is pricing at 0.9780, 0.90% above today's opening price action. Pair looks "Slightly Bullish" and "Extremely Oversold" according to the FXstreet.com technical studies.
"As 0.9700 barrier has been cleared, price approaches key short-term resistance and our target at 0.9769, 01 June peak", says Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Break here to open fresh bull-phase, as a part of broader uptrend off 0.9041, 01 May low and expose Fib 61.8% of long-term 1.1730/0.7067 descend at 0.9950. Today's close above 0.9700 will be supportive".
Currently the pair is pricing at 0.9780, 0.90% above today's opening price action. Pair looks "Slightly Bullish" and "Extremely Oversold" according to the FXstreet.com technical studies.
"As 0.9700 barrier has been cleared, price approaches key short-term resistance and our target at 0.9769, 01 June peak", says Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Break here to open fresh bull-phase, as a part of broader uptrend off 0.9041, 01 May low and expose Fib 61.8% of long-term 1.1730/0.7067 descend at 0.9950. Today's close above 0.9700 will be supportive".
