Mon, 13 Sep 2010 14:54:00 +0200

Forex: USD/CHF targeting 1.0100, even 1.0050 near-term - Kshitij

FXstreet.com (Barcelona) - Dollar Swiss retreat from 1.0280 high on Friday extended lower on Monday and the pair reached session low at 1.0115, on a bearish move which, according to the Kshitij Consultancy Services Team, could extend to 1.0100 or even 1.0050.

Current downtrend could reach 1.0100 or even 1.0050 over today and tomorrow, says the Kshitij Consultancy Services Team: "Dollar-Swiss has been falling since morning and touched a low of 1.0115 late in the Asian Session. There are good chances of the pair moving down towards 1.0100-075 or even 1.0050 in the coming sessions over today and tomorrow."

Furthermore, 1.0050 seems likely to offer good support, says the Kshitij Consultancy Services Team, for the Dollar, to bounce up during the coming days,: "Overall, we see 1.0050 as a very strong Support for the pair which may not be broken easily, followed by a rise in the coming days / weeks."

Technical Analysis (2010-09-13 12:45 GMT)
USD/CHF 1.0136/1.0137 - O: 1.0113 H: 1.0114 L: 1.0106 C: 1.0106
Trend	R3: 1.0191
	R2: 1.0165
	R1: 1.0140
	S1: 1.0077
	S2: 1.0103
	S3: 1.0128