Forex: USD/CHF breaks below 1.0360 to week low levels

By IBTimes Staff Reporter | December 24 2009 6:56 AM

FXstreet.com (Barcelona) - Dollar's retreat from 1.0500 week highs on Tuesday and Wednesday, has extended below Yesterday's low at 1.0360, and the pair stopped to a fresh week low at 1.0338 so far, amid generalized Dollar weakness.

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On the downside, the Dollar might find support at 1.0290/00 (Dec 14 low), and below here, 1.0270 and 1.0230 (Dec 11 low). On the upside, resistance levels lie at 1.0400 session high, and above here, 1.0440 (Dec 22 low) and 1.0480.

For the next session, the Swiss e Trade Strategy Team expects the pair to visit levels below 1.0300: Losing further territory, the dollar is trading now at 1.0350 against the Swiss franc in the early European market. Observing underlying stops in a thin market, we expect further weakness today, eventually to prices around 1.0280.

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