Forex: USD/CHF: Dollar pulls back to 1.0350

By IBTimes Staff Reporter | December 16 2009 11:03 AM

FXstreet.com (Córdoba) - The Swiss Franc is rising against the Dollar on Wednesday, recovering after yesterday's losses. USD/CHF rally has been halted at 1.0425 (2-month high) and the pair fell to 1.0350, intra-day low.

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If it falls below 1.0350 the next support lies at 1.0320 and 1.0300 (Dec 9, 10 high). On the upside resistance could be located at 1.0380 and above at 1.0400 and 1.04025/30. Currently the pair trades at 1.0552/57, 0.46% below today's opening price.

The Swiss Franc is also higher against the Euro. EUR/CHF fell to 1.5100 reaching the lowest price in a week. The pair failed earlier to consolidate above 1.5130 and weakened. Below 1.5100 the next support lies at 1.5080.

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