Forex Analysis : USD/CHF
There is a good chance initial resistance from 0.9330 to 0.9360 will be taken out in coming days, but the subsequent move will probably not come to much.
• Key support to start the week is at 0.9230… just a few sell orders from last week’s close. If this level is taken out quickly, then a new low to 0.9180 or so could follow, but if it holds, then we expect a technical rebound for the USD, back to 0.9330-0.9360 to start with.
• A breakout above 0.9930 due to broad based Dollar strength will place 0.9380 then 0.9420 as immediate target.