The Dollar has begun the current week against the Swissy with negative tone, extending its decline from Friday's high at 1.0182 and after opening the Asian session at 1.0120, pair has continued falling to trade below 1.0100 level and hit 1.0065 as intra-day low.
Currently the pair is trading around 1.0075/85, 0.40% below today's opening price action after using intra-day low as support level. Next supports could be 1.0055, Nov 12 low, below that, 1.0035, Nov 11 low, will be exposed.
Tomas Cedavicius, analyst at Investija.com gives us his scoop on USD/CHF: “Negative channel continued towards support level, selling actions are on a table now.”
Rajoo C, analyst at Precise Trader, comments: “The Hourly trend is in a Range trading with a downside bias expect the bears to struggle near 10070-30 levels , 10145-10205 are the critical levels to watch to maintain the bearish out look . On the 5 min is along the Horizontal Channel and the price patterns are suggesting choppy with lower lows. Fed Chairman Bernanke speaks today.”
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