FXstreet.com (Barcelona) - The Dollar's decline against Swissy from 1.0620 intra-day high (MA200 and MA55 level in hourly chart) reached in the Asian session, has extended during the European session to trade below 1.0600 level again and post current intra-day level at 1.0570.

Currently the pair is trading around 1.0575/85, 0.30% below today's opening price action.

George Clement, analyst at Swiss e trade, comments: Near the long term support around 1.0550 against the Swiss Franc, the Dollar is currently trading at 1.0590. Because of the near support and the oversold position of the market, we see recovery moves to set in today, but not exceeding the 1.0630 level.

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