USD/CHF - Consolidating Below The Resistance at 0.9562
USD/CHF has thus far failed to break the resistance at 0.9562. An initial support now lies at 0.9514 (intraday low), while an hourly support stands at 0.9473. Another resistance can be found at 0.9593.
From a longer term perspective, the technical structure favours a full retracement of the large corrective phase that started in July 2012. As a result, the recent weakness is seen as a countertrend move. A key support can be found at 0.9301 (16/09/2014 low). A resistance now lies at 0.9691 (06/10/2014 high).