Forex: USD/CHF 20 pips wide at present

on Jul 1, 2013
Listen Monday July 01st_: The trading range for the pair so far today has covered 21 pips and right now the quote is residing at 0.9455.

The MACD divergence on the 4H chart has yet to be compromised and the pair may soon decline. On the same scale the price is right at the descending MA200, which may also resist the upwards movement and add bearish pressure. However, the 89- and 200-period moving averages on the daily and hourly timeframes are floating under the price action, supporting the uptrend.

Resistance levels important today: 0.9475, 0.9510 and 0.9520.
Important support levels: 0.9435, 0.9405 and 0.9370.
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