FXStreet (Córdoba) – The US dollar continued to rise against the Swiss franc and reached the strongest level since March. USD/CHF rose above 1.0100 and peaked 1.0103. Currently is hovering around 1.0100.
During the last two trading days it has risen more than a hundred pips, but the upside was capped by 1.0090, area that so far is being broken today.
USD/CHF technical outlook
Today the pair is resuming the bullish rally after moving in ranges, consolidating during a week. USD/CHF started to rise during in mid-October, from levels under 0.9500.
According to analysts from Societe General, on a 1 to 3 months view the pair could continue to rise. “USD/CHF broke above a multi month triangle and is now piercing a multi decadal channel median line at 1.00. The up move has achieved our initial target of 1.008 and is likely to continue towards January highs at 1.0240. Short term downside, if any, should be cushioned at triangle limit of 0.9840/0.9770”, wrote analysts from SG.
(Market News Provided by FXstreet)