FXstreet.com (Barcelona) - The Dollar is trading on consolidation mode against the Swiss Franc after falling from 1.0385, last Friday high, to find support at 1.0130, yesterday low. After that, the USD/CHF has been trading throughout today's session in range between 1.0160 and 1.0200, testing several times this level.
The USD/CHF is currently moving around 1.0170/80, 0.10% above today's opening price action at 1.0165.
The Kshitij Consultancy Service Team affirms: Swiss is once again tested 1.0200 and is now trading near 1.0200. As metioned earlier a strong break above 1.0200 might take it up towards the next significant Resistance seen in 1.0250-70 region. As the broader picture remains bearish we expect this Resistance region 1.0250-70 to hold in the US session today. Note that the projected Max-High for the day is 1.0255. On the downside Support is seen in 1.0125-00 region which is holding since the Friday's fall. A break below 1.0100 might see 1.0050-30 on the downside.
The United States is expected to increase its deficit in the trade balance between October to November to 34.9 billion Dollar from 32.9 billion posted in previous month.