USDCHF. Daily chart, trend upwards. A pair continued to be consolidated in the district of maximums. Strategy without changes. Sales can be tried in a district 1.1550-1.1600 or after overcoming closing of low bound of price break 1.1280 consilient with a short-term minimum.

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USD/CHF- 24.06.09

Daily Pivots: (S1) 1.0579; (P) 1.0730; (R1) 1.0819; More

USD/CHF dived to as low as 1.0630 before turning sideway. As the pair is now sitting on important support zone of 1.0590/0650, outlook is turned neutral for the moment. On the upside, above 1.0743 minor resistance will reaffirm the case that 1.0590 is a bottom and will flip intraday bias back to the upside. Further break of 1.0897 will indicate that rise from 1.0590 is resuming for 1.1158/1740 key resistance zone next. However, break of 1.0590 low will invalidate this view and indicate that recent decline from 1.1740 is still in progress for 1.0366 support.

USD/CHF- June 30th, 2009

Daily Pivots: (S1) 1.0783; (P) 1.0847; (R1) 1.0886; More

At this point, intraday bias remains on the downside in USD/CHF as long as 1.0911 minor resistance and further fall could still be seen. But after all, the pull back from 1.1021 is expected to be contained above 1.0630 support and bring strong rally. We continue to favor the bullish case that USD/CHF has bottomed out at 1.0590 already and hence expect rise from there to resume sooner or later. Above 1.0911 minor resistance will flip intraday bias back to the upside. Further break of 1.1021 will target 1.1158/1740 key resistance zone.