FXstreet.com (Barcelona) - The USD/CHF continues its 4-day slide, having lost around 60 pips during the opening of the European session to fall from 1.0366 to trade at 1.0307 at the time of writing.
After failing to break the resistance level of 1.0510, the dollar has lost almost almost 200 pips versus the Swiss franc since Dec. 23 and has just broken 1.0320, support level for Dec.14 as well as Oct. 10 and Sept. 16.
According to the ecPulse analysts, the market should expect a possible bearish trend for today; targeting 1.0275 - 176.4% Fibonacci extension level -, meanwhile knowing that the four hour- closing above 1.0375 will make the suggested harmonic pattern completed.
The trading range for today's USD/CHF is among the key support at 1.0200 and the key resistance at 1.0500.
The Swiss franc is also extending its rally versus the euro as the pair reaches lows not seen since March.
In EUR/CHF has lost more than 30 pips on the day and over 275 pips since Dec. 16 high of 1.5136 to currently trade below 1.4860.