FXstreet.com (Barcelona) - The Dollar's recovery against the Swiss Franc from 1.0130, 1-month low, has been capped at 1.0205 with the pair being unable to hold levels above 1.0200 and falling to reach levels close to 1.0150. Pair is facing the parity closely after falling 250 pips from 1.0385 after the US employment report released last Friday.
Today, the USD/CHF is pricing around 1.0150/60, falling 0.65% so far today from opening price action at 1.0220.
Peter Rosenstreich, analyst at ACM, comments: Todays strong move thru 1.0225 will have traders watching retracement levels at 1.0115 ahead of 1.0000. On the upside next levels to watch outside the range are 1.0508 key high and beyond there the 1.0700 major resistance (38.2% correction of the move from 1.1970 down to 0.9918).
The Swiss e Trade Strategy Team expects the USD/CHF rising back to 1.0240: The dollar recovered a little against the Swiss franc in the early European session. So far, the move is limited to the 1.0200 handle with the market right now priced at 1.0165. We predict, though, that the 1.0200 level will be broken in today's trading, reaching 1.0240.