Swissie finally broke above the strong resistance level at 0.98. The breakout came overnight on low volumes so I would be wary of a pullback, perhaps on the release of FOMC meeting minutes later today.
The immediate resistance is the confluence of 100 DMA and 200 DMA. Beyond that, 0.99 and 1.00 are the next levels where I'd expect some selling to come in. 0.975 - 0.98 shall now hold as a support, if this market is indeed bullish.
The immediate resistance is the confluence of 100 DMA and 200 DMA. Beyond that, 0.99 and 1.00 are the next levels where I'd expect some selling to come in. 0.975 - 0.98 shall now hold as a support, if this market is indeed bullish.