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19 May 2014
USD/CHF finds support above 0.8900
FXStreet (Córdoba) - The USD/CHF is about to end Monday unchanged from Friday’s closing price, hovering around 0.8920. During the day price remained trapped in a small trading range with support above 0.8900 and resistance at 0.8925.
Volatility was low across the board on Monday and particularly in the USD/CHF, that for the second day in a row moved in a range of less than 30 pips.
USD/CHF technical outlook
The pair still holds a bullish tone in the short term but trades close to an important resistance level located around 0.8950/60 that also capped the upside during April.
After soaring during the last two weeks the pair is pausing its rally. A decline below 0.8900 could trigger a bearish correction; below the next relevant support in the short term could be located at 0.8855.
Volatility was low across the board on Monday and particularly in the USD/CHF, that for the second day in a row moved in a range of less than 30 pips.
USD/CHF technical outlook
The pair still holds a bullish tone in the short term but trades close to an important resistance level located around 0.8950/60 that also capped the upside during April.
After soaring during the last two weeks the pair is pausing its rally. A decline below 0.8900 could trigger a bearish correction; below the next relevant support in the short term could be located at 0.8855.