By Russell Glaser
A sharp rise in the price of the USD/CHF has taken the pair above the intermediate trend line and has the price testing an 7-month trend line.
With the breach of the December to January trend line last week, the pair may soon take out the downward sloping trend line that begins on June 1st, 2010 and served as support in early December. Should the pair close above this trend line the next resistance levels would be found at 0.9730, followed by 0.9915, and the December 1st high of 1.0065.
Support comes in at 0.9500 and the low at 0.9300.
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