by Wed, 04 Aug 2010 17:45:00 +0200
Forex: USD/CHF rises further to 1.0525, 6-day high
FXstreet.com (Córdoba) – The Dollar extended its rally against the Swiss Franc and rose above 1.0500 for the first time since last Thursday. The pair peaked at 1.0525 and retreated afterwards to 1.0495. Currently is back above 1.0500, trading at 1.0510/15, 1.16% above today’s opening price. Greenback moved further away from 6-month lows.
“Swiss Franc is slowly losing past strength, and the cross seems to have found a temporal bottom around 1.0350 area, still far from confirming a bullish corrective rally” Valeria Bednarik, chief analyst at FXstreet.com said.
The Swissy is among the worst performs so far on Wednesday and is falling sharply across the board. EUR/CHF trades above 1.3800 at 7-week highs while CHF/JPY tumbled earlier to 81.82, 1-month low.
| Technical Analysis (2010-08-04 15:30 GMT) | |
|---|---|
USD/CHF 1.0511/1.0515 - O: 1.0418 H: 1.0419 L: 1.0407 C: 1.0412 | |
| Trend | R3: 1.0487 |
 | R2: 1.0461 |
| R1: 1.0434 | |
| S1: 1.0367 | |
| S2: 1.0393 | |
| S3: 1.0420 | |
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