Forex | Forex | Forex: USD/CHF falls quickly and trades below 1.0600 (31/08/2009 15:01:00)

Forex: USD/CHF falls quickly and trades below 1.0600

FXstreet.com (Barcelona) – Almost 100 pips has fallen USD/CHF after the US opening bell from 1.0640, intra-day high level, to break down the 1.0600/10 tough zone and trade close to 1.0550. Currently the pair is trading around 1.055/65, 0.35% below today opening price.

Valeria Bednarik, FXstreet.com collaborator, comments that pair needs to break up 1.0630 to regain recovery path: “Trapped in range, hourly indicators are quite flat, while bigger time frames support some upside movement. Confirmations above 1.0630, 200 EMA in the 4 hours chart, are needed to see the pair gain some momentum.”

Bednarik provides us with her levels: “Support levels: 1.0600 1.0580 1.0550. Resistance levels: 1.0630 1.0660 1.0700.”

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