FXstreet.com (Barcelona) - After trading in a narrow range between 1.0585 and 1.0605 during the Asian session, the Dollar has collapsed against the Swissy during the European session to drop around 140 pips from 1.0605, intra-day high, to break 1.0525 support and post 1.0460 as fresh 2009 lowest level.
Currently the pair is trading around 1.0470/80, 1.15% below today's opening price action. If downtrend continues, pair could find support at 1.0350/60 zone, December low.
George Clement, analyst at Swiss e Trade, comments: Currently trading at lows around 1.0480, still in lower volatility, the Dollar continues to fight its lower echelons against the Swiss Franc. With this market quite oversold now, we do not see further substantial weakness in today's trading, rather limited recovery moves towards the 1.0550 levels.