“The USD/CHF has consolidated near the 0.9395 zone and rebounded to the upside, via a breach of the main resistance, which may signal an upside wave. We require a break above the 0.9439 region to provide the pair with more upside momentum.” writes the Technical Analyst Team at ICN.com.
According to Slobodan Drvenica, an analyst at Windsor Brokers Ltd., “The pair is operating at the 0.9400/36 (200-day MA/01 October top), on its near-term rally from 0.9273, with 0.9430 seen so far after yesterday’s close at 0.9400.”
In these moments the pair is trading negatively, incurring a loss of -0.13% on the day. Drvenica points to calculated supports at 0.9383, followed by 0.9370, and ultimately 0.9350. A surge to the upside or retracement back towards the 0.9400 level will instigate a corrective movement at 0.9430 and 0.9461.