The USD/CHF pair attracts some dip-buying near the 0.9045 region on Monday and touches its highest level since June 13 during the Asian session. Spot prices currently trade around the 0.9075-0.9080 area and seem poised to build on last week’s breakout momentum through a technically significant 200-day Simple Moving Average (SMA).
Sentiment is: Positive
USD/CHF has broken through a resistance line. It has touched this line numerous times in the last 4 days. This breakout shows a potential move to 0.9099 within the next 11 hours. Because we have seen it retrace from this level in the past, one should wait for confirmation of the breakout.
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