USD CHF Likely to Test 1.0242 to 1.0262

The USD CHF is trading flat this morning but this action should notaffect the trend. Short-term traders may be backing off because of thestrong rally earlier in the week, but longer-term traders are lookingfor more upside.

Daily Analysis

USD CHF

The USD CHF is trading flat this morning but this action should not affect the trend. Short-term traders may be backing off because of the strong rally earlier in the week, but longer-term traders are looking for more upside. This may mean a developing “buy the dip” situation. Sentiment appears to be shifting toward the Dollar and away from higher yielding assets.

The chart indicates the USD CHF is in a 1.0452 to 1.0032 range. This range creates a retracement zone at 1.0242 to 1.0292. Downtrending resistance is at 1.0262. Up trending resistance is at 1.0152.

Daily Chart

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