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24 Apr 2013
Forex: USD/CHF consolidates near highs
FXstreet.com (Córdoba) - The US dollar extended gains versus the Franc on Wednesday to a fresh 3-week high before losing momentum. USD/CHF peaked at 0.9471 during the European session as weaker-than-expected Ifo German figures gave the greenback a boost, but found resistance and pulled back slightly.
However, with the dip being contained by the 21-hour SMA around 0.9440, the pair was confined to a phase of consolidation that has extended over the last hours. At time of writing, USD/CHF is trading around 0.9450/55, virtually unchanged since opening.
In terms of technical levels, if USD/CHF manages to break decisively above 0.9470, next resistances could be found at 0.9500 (psychological level) and 0.9525 (high Apr 1). On the other hand, immediate supports are seen at 0.9440 (daily low), 0.9400 (psychological level) and 0.9380 (21-day SMA).
However, with the dip being contained by the 21-hour SMA around 0.9440, the pair was confined to a phase of consolidation that has extended over the last hours. At time of writing, USD/CHF is trading around 0.9450/55, virtually unchanged since opening.
In terms of technical levels, if USD/CHF manages to break decisively above 0.9470, next resistances could be found at 0.9500 (psychological level) and 0.9525 (high Apr 1). On the other hand, immediate supports are seen at 0.9440 (daily low), 0.9400 (psychological level) and 0.9380 (21-day SMA).