Forex: USD/CHF finds support at 1.0125, back to 1.0180

Thu, Nov 5 2009, 17:56 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) – The Dollar's decline from 1.0190 resistance in the European session has found support at 1.0125 in the American session with the pair bouncing at this level to trade above 1.0150, close to 1.0180.

Currently the pair is trading around 1.0170/80, 0.15% above today's opening price action at 1.0160.

Valeria Bednarik, FXstreet.com collaborator, comments: “Quoting around strong resistance static level also 20 SMA in the hourly, an hourly close above current zone could change intraday bearish bias, yet bigger time frames remain too flat to tell. Break under today’s low, will likely trigger more selling for the rest of the day.”

Bednarik provides us with her levels: “Support levels: 1.0125 1.0090 1.0060. Resistance levels: 1.0165 1.0200 1.0240.”

USD/CHF

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