USD/CHF uptrend capped by resistance

FXstreet.com (Lisbon) - The USD/CHF foreign exchange rate inched higher Tuesday, peaking earlier at the 0.9347 region, which culminated in a slight easing in recent minutes.

USD/CHF technical levels

At this juncture, the USD/CHF is firmly entrenched in positive territory on the day, settling at the 0.9337 region during European trading. Technically speaking, the USD/CHF will encounter resistances at 0.9347 (session high), onto 0.9369, and 0.9395, notes the Danske Research Team.

USD/CHF strategic bias

According to Karen Jones, an analyst at Commerzbank, “The USD/CHF slipped through the 200 day moving average at 0.9358 and hit the 50% retracement at 0.9301. It should stabilize ahead of the 0.9290 August 22 low. Last week the USD/CHF cleared the August high at .9396 and the close above has confirmed that another bottom has been made and that a rise towards the 0.9753 July high should be seen in the days to come. The base measurement of 0.9396-0.9146 offers a minimum upside measured target to 0.9646.”