FXstreet.com (Barcelona) - The USD/CHF has fallen around the 70 pips from 1.1750 to the 1.1680 after the worst than expected US GDP data and the pair is testing again the 1.1700 level after be rejected again by the 1.1755 resistance.
Currently, the pair is trading below the 1.1700, if the USD/CHF breaks this support, the pair will go down to the 1.1620 support. On the upside, if the pair is rejected by the 1.1700 level, it could go up to try to break the 1.1750 again. If pair breaks this resistance finally, the pair will go up toward to the 1.2200 level, before it could break the 1.2000 psycologic resistance, as Dec. 11 maximum, and the 1.2085 as the Dec 10 high.
According to Nick Nassad, Currency market analyst with CMS Forex, the Dollar is currently the safe haven currency of choice: Therefore the Dollar is increasing against its rivals despite the weaker data as risk aversion is very evident from the overnight price action... The Swiss Franc is also coming under pressure as its export driven economy is faltering.