The Swissy posted a fresh all time high versus the Dollar on Monday, as debt concerns continue to weigh down on the US currency, while a lower−than−expected manufacturing ISM did nothing but to intensify the sell−off in the cross.USD/CHF dropped almost 200 pips along the day, hitting a never seen before low at 0.7727 before bouncing back above 0.7800, where it has been consolidating in a tight range within the last couple of hours. At time of writing, USD/CHF is trading at 0.7812, still 1.35% below its opening price.
"Oversold hourly conditions suggest corrective bounce, however 0.7951 offers strong resistance and only break here to ease immediate bear pressure", said Slobodan Drvenica, analyst at Windsor Brokers Ltd.
"Oversold hourly conditions suggest corrective bounce, however 0.7951 offers strong resistance and only break here to ease immediate bear pressure", said Slobodan Drvenica, analyst at Windsor Brokers Ltd.
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