Forex: USD/CHF breaks below 0.9545, to hit 0.9505 session low

Wed, 22 Dec 2010 13:19:00 +0100

Forex: USD/CHF breaks below 0.9545, to hit 0.9505 session low

FXstreet.com (Barcelona) - The Dollar continues trading lower against the Swiss Franc, which rallies across the board on higher demand for safer assets, and the pair broke below November low, at 0.9545, to hit a fresh 2-month low at 0.9505 so far.

The pair is testing support at 0.9500/15 (psychological level/Daily pivot Point S2), with next levels, below here, at 0.9481 (Oct 14 low) and 0.9460 (Daily pivot point S3).

On the upside, the pair might find resistance at 0.9560 (Dec 14/17 lows), and above here, 0.9580 (session high), and 0.9610 (intra-day level).

Technical Analysis (2010-12-22 12:15 GMT)

USD/CHF 0.9531/0.9535 - O: 0.9669 H: 0.9707 L: 0.9668 C: 0.9703

Trend R3: 0.9583
R2: 0.9559
R1: 0.9535
S1: 0.9484
S2: 0.9508
S3: 0.9532