FX : USD/CHF falls further and posts intra-week low at 1.0570
FXstreet.com (Barcelona) – The USD/CHF's rejection from 1.0640, intra-day high, has continued during the European session to break 1.0590/1.0600 support zone in the last hour. The pair has fallen to post 1.0570 as fresh intra-week low. Currently the pair is trading around 1.0580/90, posting 0.35% daily loses from opening price action.
Next support could be 1.0550/60 zone, 2009 lowest level.
Last two session days, USD/CHF has been trading in a narrow range between 1..0590 and 1.0640. In the current week, pair is posting 0.35% gains from Monday opening price, recovering from two week in negative field.
Geroge Clement, senior analyst at Swiss e Trade, doubts that the USD will take a new course in these times: “Against the Swiss franc, the dollar is keeping its low volatility, trading right now at 1.0605. We expect that level to hold more or less in today’s trading, with some weak recovery moves in further low volatility.”
