USD/CHF: Dollar bounces from 1.1345 support

The Dollar seems to have found support at 1.1345 levels and the pair has risen to levels right below 1.1400 in European trading session.

Above 1.1400, next resistance levels come at 1.1415 and 1.1445. On the downside, below 1.1345, next support levels could stand at 21.1320 and 1.1290.

According to Tim Salem, collaborator at FXstreet.com, key levels to observe are 1.1500/05 and 1.1345: “A Bullish Flag Formation begins to reveal itself and if Formation completed, we find Upside “potential” to rest @ the 1.1500/05 Dynamic Resistance handle in the Intraday Mid-Term. Failure to remain@ the 1.1346 Dynamic Support will begin to negate the Formation and brings 1.1322 and 1.1292 Dynamic Supports into View.”