FXstreet.com (Barcelona) - Dollar decline from 1.0700 high on Friday has reached an important support level at 1.0360 (Dec 28 2008 high) and the Dollar bounced up to day high at 1.0465, with next resistance at 1.0490.
According to Valeria Bednarik, collaborator at FXstreet.com, the Swissy might have been intervened by Banks: Pair approached to key support one around 1.0360, and jumped to the 1.0440 level as Banks seems to be intervening the Swiss Franc to avoid further appreciations as already happened a couple of times this year. Hourly charts remain bearish with current level as key resistance level to overcome to extend upside rally. Bigger time frames suggest further upside in the pair, with 1.0490 as next resistance level to consider.
Resistance levels, according to Bednarik, lie at 1.0440, 1.0490 and 1.0520. On the downside, support levels lie at 1.0400, 1.0360 and 1.0320.