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21 May 2014
USD/CHF jumps to nearly 1-week highs at 0.8955
FXStreet (San Francisco) - The USD/CHF is trading higher on Wednesday as the pair is joining its negative correlation with the EUR/USD that is testing key 1.3650 level.
After jumping around 60 pips in the day from 0.8895, the USD/CHF is pricing at its highest level since May 15 at 0.8955. Currently, USD/CHF is trading at 0.8946, up 0.29% on the day, having posted a daily high at 0.8956 and low at 0.8897.
The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/CHF levels
According to Matt Bacon-Hall, FXBeat Editor, the important levels to follow in the USD/CHF are 0.8950 (I would expect offers 0.8945-50 playing just ahead of the prior high...also check the hourly time frame… there is a corrective structure unfolding which terminates at 0.8950) and 0.8958 (High of A=C....naturally I would expect covering above here).
After jumping around 60 pips in the day from 0.8895, the USD/CHF is pricing at its highest level since May 15 at 0.8955. Currently, USD/CHF is trading at 0.8946, up 0.29% on the day, having posted a daily high at 0.8956 and low at 0.8897.
The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/CHF levels
According to Matt Bacon-Hall, FXBeat Editor, the important levels to follow in the USD/CHF are 0.8950 (I would expect offers 0.8945-50 playing just ahead of the prior high...also check the hourly time frame… there is a corrective structure unfolding which terminates at 0.8950) and 0.8958 (High of A=C....naturally I would expect covering above here).