The Swiss Franc is rising for the fourth consecutive session against the Dollar and recently reached a fresh 6-week high. USD/CHF broke below 1.0990 and tumbled to 1.0973 (session low). Current price at 1.0980/85 is 0.40% below today’s opening price.
To the downside support levels lie at 1.0920 (May 10 low / April 29 high) and below at 1.0900. Resistance levels could be located at 1.1045 (session high) and above at 1.1070 (June 24 high).
The pair is approaching to an important support according to the Kshitij Consultancy Services Team: “continuing to trade lower and is inching slowly towards the significant support at 1.0950-30, the downmove which we have been expecting all through this week”.