Forex: USD/CHF trading sporadically at 0.9235/39

The USD/CHF has been in a state of flux since the European session Monday, however the onset of American trading has taken its volatility to a new level. Following a setback in the 0.9223 region earlier, the cross jumped nearly 15 pips to trade positively at 0.9241. In recent moments the pair has eased slightly off of this mark, settling at 0.9235/39, clinging to a +0.10% advance.

The USD/CHF managed to stay positive consolidating above its linear regression indicators since it stabilized above key resistance level of the downside move as shown on the graph. Prolonged stability above the 0.9200 levels might extend the bullish move this week, however we do not exclude chances for heavy volatility and a retest of 0.9200 areas to cover the opening gap and also unload negative overbought pressures.” Warns the ICN.com analyst team.

According to the Mataf.net analyst, the USD/CHF will meet resistive correction at the 0.9248, followed by 0.9263, and finally 0.9284. Conversely, supports lie below at 0.9212, onto 0.9191, and eventually 0.9176.

With US and Canadian Markets on holiday, with respect to the observance of Presidents Day and Family day respectively, markets seem to be quite muted today, despite limiting the pricing catalysts Monday.