FXstreet.com (Barcelona) - The USD/CHF is trading in consolidation mode after trading lower since the early September from 1.0700 level, Sept 4 high, to fall around 385 pips to break 1.0360 support and test lowest levels since July 2008.

During the European session, USD/CHF has slightly risen close to 1.0350 after testing 1.0315 level, July 25 and 29 of 2008. Currently the pair is trading around 1.0340/45, at the same range of opening price action.

George Clement, analyst at Swiss e Trade, expects a lower Dollar: The dollar is following its euro path against the Swiss franc, but it in much lower volatility. After reaching lows around 1.0320 this European morning, the dollar is in one of those slight upward corrections, which we do not see going much further, perhaps up to 1.0350, where we see another chance to sell the USD.