So far the Dollar was a little reluctant to go down against the Swiss Frank, quite in contrast to other major pairs. Now the CHF is pegged to the Euro, not officially, but obviously. The Swiss National Bank would do evrerything that the Fanc is growing too much against the Euro. That brings us to the conclusion that the market has a lot more donwside potential. Consider the fact that a lot of selling stops are already built in below the market, and you easily see the downside opportunity.

For today`s trading, we look again for favourite selling points for the Dollar, as described in below`s trading bands for the majors. Note the publishing of the US durable goods orders for August, at 14.30 CET. Expected is an improvement.

Intraday Market outlook

EUR/USD
The market experienced a setback, but is on recovery move this European morning, trading right now at 1.4680. We expect some further upmoves today, but would not buy below 1. 4650.

GBP/USD
The pound is just consolidating its lower levels against the Dollar, now trading at 1.6010. We do see upside potential for today, to marks arount 1.6150.

USD/CHF
Regaining ground in a kind of upward correction, the Dollar is currently priced at 1.0290 against the Swiss Franc this European morning. We regard the present levels as a selling point, most probably leading to marks around 1.0200 again.

USD/JPY
The Dollar is trading at a day`s low so far in the early Eurpean hours, right now at 90.45 against the Yen. We expect this level to be the low for the whole day, and see upmoves from here to 91.10.