Recovering from an overnight low in 0.9560, the USD/CHF is pushing to the upside in the initial hour of trading over Europe and consolidating above 0.9600. Most recently the pair reached as high as 0.9622 before running into what seems to be firm resistance, and currently trades settled around 0.9615 where it awaits fresh direction.
Further above, immediate resistance is listed at 0.9637 (10-Day MA), 0.9685 (Daily High Jan 20,21) and 0.9764 (High Jan 13, 100 Day MA). To the downside, support is placed at 0.9528 (Daily Low Jan 20(, 0.9521 (Daily Low Jan 19) and 0.9500 (Psychological Level)
