USD/CHF has broken the resistance at 0.9340, validating a short-term base formation. Monitor the key resistance at 0.9375 (08/04/2013 high). Another resistance can be found at 0.9442. Hourly supports can be found at 0.9303 (22/04/2013 low) and 0.9277 (19/04/2013 low).

In the longer-term, we do not expect to see a break of the support area between 0.9022 (01/02/2013 low) and 0.8931 (24/02/2013 low) and favour a minimum move towards the resistance at 0.9972 (24/07/2012 high).

Daily Technical Report