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6 Mar 2013
Forex: USD/CHF threatens daily highs
As the dollar continues to benefit from the broad cautious mood, USD/CHF has continued to advance during the New York session, and recently reached its highest level in almost 4 months at 0.9480.
Even though the pair lacked momentum to break above the 0.9480 level, it continues to threaten the upside, currently trading around 0.9475 where it posts a 0.7% gain on the day.
In terms of technical levels, on the upside next resistances are seen at 0.9500 (psychological level), 0.9515 (high Nov 13) and 0.9580 (high Sep 7). On the downside, supports could be found at 0.9400, 0.9375 (high Feb 28) and 0.9350 (low Mar 1).
Even though the pair lacked momentum to break above the 0.9480 level, it continues to threaten the upside, currently trading around 0.9475 where it posts a 0.7% gain on the day.
In terms of technical levels, on the upside next resistances are seen at 0.9500 (psychological level), 0.9515 (high Nov 13) and 0.9580 (high Sep 7). On the downside, supports could be found at 0.9400, 0.9375 (high Feb 28) and 0.9350 (low Mar 1).