Overview:
USD/CHF is trading in lower range. The rate is undermined by weaker demand for safe-haven USD as worries over Greece recede. Daily chart is negative-biased as stochastics is falling from overbought; MACD staged bearish crossover against its exponential moving average.
Preference:
Buy above 0.941 with target 0.946 and 0.9475 in sight.
Resistance Levels:
R1 - 0.9461 (Monday's high)
R2 - 0.9475
R3 - 0.9515 (Nov. 13 high)
Alternative scenario:
Sell below 0.941. The downside breakout of 0.941 will open the way to 0.939 and 0.937.
Support Levels:
0.9390 (Tuesday's low)
0.9374 (Nov. 7 low)
0.9309 (Nov. 2 low)
Technical Comment:
The pair has rebounded and is breaking above its resistance. Daily chart is negative-biased as stochastics is falling from overbought; MACD staged bearish crossover against its exponential moving average.
