FXsttreet.com (Barcelona) - The Dollar decline from 1.1850 high on Mar 4 has extended in an aggressive way during Friday's Asian session, and the pair has dropped about 220 pips, all the way down to 1.1485.

On rejection of an attempt to break 1.1710 level the USD/CHF has dropped all the way to 1.1485, throwing away in just hours all the ground gained on its rally from 1.1460 low on Feb 23. At the moment the pair is trying to pull up a recovery move raising from 1.1500, and attempting an assault to 1.1560 resistance level.

Below 1.1500, next support levels come at 1.1415, Feb 3 low, and once broken this level, the Dollar could head towards 1.1325 (Jan 27 low.)

On a longer point of view, the channel between 1.1450 and 1.1900 seems to have grow strong ad the pair has been moving inside here for the last 6 weeks, furthermore, resistance at 1.1890 seems a wry strong one, and any attempt to break it has triggered enormous declines so far.