USD/CHF finds resistance again at 1.0140

The US dollar is up for the day against the Swiss franc, rising for the second session in a row. But during the last hours, it moved off highs after losing strength at a key level. 

USD/CHF rose from 1.0085 to 1.0139, boosted by a rally of the US Dollar across the board. The pair reached the highest level in a week, but just like it happen last Wednesday, it found resistance below 1.0140. 

From the high, the pair declined more than 25 pips and currently is trading at 1.0110, still headed toward the highest close since mid-January. 

Levels to watch 

The pair remains with a bullish tone with price holding above the 20-day moving average. The upside continues to be limited by the 1.0140 area. The greenback needs to break the mentioned barrier to open the doors to more gains. 

While holding below that area, the potential of a bearish correction is on the rise. Support levels are seen at 1.0095 (European session low), 1.0050 (Mar 1 low) and then 1.0030 (20-day moving average).