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23 Apr 2013
Forex: USD/CHF extends gains and tests Fibo level
FXstreet.com (Córdoba) - Following a short-lived correction, the US dollar resumed the upside and extended its advance versus the Swiss franc, reaching a fresh 3-week high in recent dealings.
Having climbed over 100 pips from daily lows, USD/CHF printed a high of 0.9430 (61.8% retracement of 0.9566/0.9205 drop) and currently trades around 0.9425, where it records a 0.9% gain on the day.
In terms of technical levels, if USD/CHF manages to break decisively above 0.9430 next resistance is seen at the 0.9496/0.9500 zone (Apr 6 high/psychological level). On the other hand, supports on dips could be faced at 0.9320 (10-day SMA), 0.9300 (psychological level) and 0.9275 (Apr 19 low).
Having climbed over 100 pips from daily lows, USD/CHF printed a high of 0.9430 (61.8% retracement of 0.9566/0.9205 drop) and currently trades around 0.9425, where it records a 0.9% gain on the day.
In terms of technical levels, if USD/CHF manages to break decisively above 0.9430 next resistance is seen at the 0.9496/0.9500 zone (Apr 6 high/psychological level). On the other hand, supports on dips could be faced at 0.9320 (10-day SMA), 0.9300 (psychological level) and 0.9275 (Apr 19 low).