Forex: USD/CHF rebounds at 1.0085 to session high at 1.0145

FXstreet.com (Barcelona) - Dollar retreat from 1.0240 high on Friday extended lower on Tuesday's Asian trade, to hit session low at 1.0085, right above 11-month low at 1.0065, where the pair found support to bounce up, reaching session high levels at 1.0145 at the moment of writing.

The pair has been trading within a falling wedge pattern since Friday's high which, according to the ecPulse.com analysis team, suggests the possibility of a near-term upside correction: " This expected upside movement supports the clear oversold signs appearing through momentum indicators, but keep in mind that these expectations require two main factors to be completed; first, a clear breach of 1.0115, second is stability above 1.0070. "

Resistance levels, according to the ecPulse.com analysis team, lie at 1.0115, 1.0155 and 1.0190. On the downside, support levels are 1.0105, 1.0070 and 1.0010.

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