FXstreet.com (Barcelona) - The dollar's recovery against the Swissy from 7-month low at 1.0315 has found resistance at 1.0370 and pair has begun to retreat to levels close to 1.0330. Currently the pair is trading around 1.0335/45, 0.05 below today's opening price action at 1.0345.
Valeria Bednarik, FXstreet.com collaborator, comments: Pair remains bearish in the hourly, thus current candle opening above 20 SMA that's losing the bearish slope and changing to flat, suggest some short term recovery for next hours, before a new attempt to break lower. Expect corrective movements to remain capped under 1.0420/40 strong resistance level.
Bednarik provides us with her levels: Support levels: 1.0320 1.0280 1.0250. Resistance levels: 1.0365 1.0390 1.0420