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Forex pairs in this Article » USD/CHF
FXstreet.com (Barcelona) - USD/CHF has staged a gap in the charts to open below the 0.9400 handle and is continuing to be offered since last weeks highs around 0.9480.

USD/CHF may attract some bids and typically traders may target to close the gap on the intra day charts. Fundamentally, the dollar mixed and there has certainly been some wind taken from its sail of late in conditions where we’ve listened to US policy makers playing down the concerns that tapering was imminent and differentiating between the terminology that had been used in terms of interest rates going forward. The Swissy benefits in times of uncertainty and the markets position in the dollar will be US data dependent in terms of timings of tapering. The calendar is light this week for CHF but there a number of US releases, commencing today, Chicago Fed and Existing Homes sales in the afternoon.

USD/CHF technically neutral

The pair approaches the strong support at 0.9367, which was tested last week. A closing break below this would be negative, exposing 0.9242. Resistance is at 0.9478 ahead of 0.9555 – UBS FX Strategy, Gareth Berry. Meanwhile, the pair has struggled to clear the 55 day ma at 0.9478 and will need to manage the 0.9568 and March high in order to alleviate immediate downside pressures before it can retarget the 0.9753 July high.
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