USDCHF: With USDCHF breaking and hold above its key resistance at the 0.9331 level, it now looks to extend further upside gains towards the 0.9504 level, its Jan 13’2012 low. A break of here will call for a run at the 0.9591 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 0.9331 level. A reversal of roles as support is likely to occur. Below here will leave the pair relapsing to the 0.8929 level, its Feb 24’2012 low. Further down, support comes in at the 0.8890 level, its Nov 03’2011 low where a breach will call for further declines towards the 0.8700 level, its psycho level. On the whole, the pair remains biased to the upside having resumed its uptrend.
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