FXstreet.com (Barcelona) - The Greenback had an unconvincing run to the upside against the Swiss Franc earlier in Europe, posting an intra-day high at 0.9870 level. However, a worrying lack of general impetus within the FX market led the currency to loose steam as the day went by. By the time the US season began, USD/CHF had been dragged over 55 pips lower to find support at 0.9815, daily low. From there, a shy drift back above 0.9850 was seen, only to give up the area once more in the last hour of trading, currently at 0.9840, a 0.07% lower than its previous close.
According to the Analysis Team at 4CAST: "The mkt. is still above Fri's new low at 0.9776 but we still think this is likely to come under pressure over the next few days. Ahead of this the close sup. is at 0.9810 while a new low should target 0.9745/50 next. Res. is in the 0.9870/00 band".
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