USD/CHF has thus far only mildly declined near the resistance implied by the recent high at 0.9250. A break of this resistance would open the way for a further rise towards the resistance at 0.9456. Hourly supports stand at 0.9154 (intraday low) and 0.9135 (intraday low).
In the longer term, the current sharp rebound near the support area defined by 0.8931 (24/02/2012 low) and 0.8864 (38.2% retracement) favours a new phase of strength, especially as prices are deeply oversold. A resistance can be found at 0.9456.
Daily Technical Report
