Forex: USD/CHF uptick slows

on Jul 2, 2013
Listen Tuesday July 02nd_: The MACD (9, 12, 1) divergence on the 4H chart has not yet pushed the pair lower and may soon be compromised. From 27 June until yesterday the pair had been meeting resistance at the falling MA200 on the four-hour scale, at which point the moving average was crossed above. Currently the USD/CHF is trading at 0.9480 and above the MA200.

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Also since 27 June, the price has been attempting without success to breach the 50 percent retracement of 0.9837 to 0.9129 at 0.9482.
If the upwards movement continues and yesterday’s high of 0.9502 is passed, the price could well rally to test 0.9625.
Resistance levels: 0.9485, 0.9505 and 0.9520.
Support levels: 0.9465, 0.9440 and 0.9410.
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CHF Forex