Forex | Forex | Forex: USD/CHF collapses below to 1.0800 (31/07/2009 14:35:00)

Forex: USD/CHF collapses below to 1.0800

Fxstreet.com (Barcelona) – Dollar is falling against the Swissy at a strong pace in the American session, declining around 90 pips from 1.0860 to break 1.0820, trade below 1.0800 and post intra-day low at 1.0770. Currently the pair is trading around 1.0775/85, 0.85% below today's opening price.

USD/CHF is closing the current week with 0.90% gains from Monday opening price at 1.0697, the first positive week in the last four.

Valeria Bednarik, Fxstreet.com collaborator, comments: “Slightly bearish in the hourly, pair seems to be forming a head and shoulders figure, with neck around 1.0830 level. Despite indicators have turned slightly bullish, confirmations under that level could trigger some bearish rally in the pair, with 1.0800 as immediate resistance. Above 1.0880, figure is denied, and pair could approach again to strong congestion zone between 1.0920/1.0960.”

Bednarik provides us with her levels: “Support levels: 1.0830 1.0800 1.0770. Resistance levels: 1.0890 1.0920 1.0960.”

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