By CountingPips.com
USD/CHF: The US dollar declined against the Swiss franc last week to fall under the 0.9500 price level after three straight weeks of increases. The USD/CHF currency pair currently trades around the 0.9455 level and looks to see 0.9500 major level as near-term resistance. Further downward action this week will likely run into support at 0.9400 area and then at the 0.9300 area and 0.9250 level. If price climbs above the 0.9500, there will likely see heavy resistance at the 0.9600 major level. The MACD indicator shows a neutral to slightly bullish signal.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
