FXstreet.com (Barcelona) - The USD/CHF has shed over 50 pips on the day to trade below the 1.0335 mark from a intra-day high of 1.0390.
Today's losses continue the dollar's +200-pip slide versus the franc after the pair failed to break above the over two-month high of 1.0510 established on December 17.
At the moment of writing, the par is testing 1.0320, which served as a support level for Dec.14 as well as resistance level for Oct. 7, 10 and Sept. 21, 28.
According to Peter Rosenstreich, analyst for Advanced Currency Markets, the USDCHF will trend bearish as slowing upside momentum will pressure downside as the pair make lower lows. 1.0389 5dma forms first resistance, with next levels above there at 1.0625, and beyond there the 1.0700 major resistance and 38.2% correction of the move from 1.1970 down to 0.9918. Near term support stands at 1.0296 ahead of 1.0219 low.