FXstreet.com (Barcelona) - The Dollar is collapsing today's session against the Swissy and, after falling 0.80% so far today from opening price action at 1.0085, USD/CHF has reached the lowest level since April 14 2008 at 0.9993. Currently the pair is trading around 1.000/10, testing the parity.
George Clement, analyst at Swiss e Trade, comments: After breaking support at 1.0080 against the Swiss franc in early European trading, the dollar is right now priced at 1.0040, on its way to test the important 1.0000 handle. We see recovery moves setting in soon but later a test of 1.0000 support is possible. For short positions, though, we prefer the 1.0060 mark for an entry point in today's trading.
The Kshitij Consultancy Service Team affirms: Swiss is continuing to trade strong on the downside targeting parity. As mentioned earlier a break below 1.0030, might see further dip towards 0.9980-50 in the coming sessions/days. Any sharp upmove is not looking likely now. however a bounce back if seen from the current levels might see a rise towards 1.0130-50.