The USD/CHF reached an all time low earlier during the European session at 0.8020. The downside took a breather in the last hours and the pair moved slightly of session lows and at the moment it is attempting to recover further ground above 0.8050 and trades at 0.8052/55.
Despite bouncing from the lows, Greenback is trading 130 pips below Friday closing price.
According to Slobodan Drvenica, analyst at Windsor Brokers Ltd the pair weakened after breaking below 0.8073, which lead to new record lows. “This keeps broader bear tone firmly in play, as daily studies point lower. On the downside, 0.8000 is an initial target, break of which to open figures at 0.7950/00, while 0.8130/50 zone caps.”
Despite bouncing from the lows, Greenback is trading 130 pips below Friday closing price.
According to Slobodan Drvenica, analyst at Windsor Brokers Ltd the pair weakened after breaking below 0.8073, which lead to new record lows. “This keeps broader bear tone firmly in play, as daily studies point lower. On the downside, 0.8000 is an initial target, break of which to open figures at 0.7950/00, while 0.8130/50 zone caps.”
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