Resistance 3: Chf1.1950
Resistance 2: Chf1.1885
Resistance 1: Chf1.1800
Current price: Chf1.1717
Support 1: Chf1.1690
Support 2: Chf1.1575
Support 3: Chf1.1430
Comments: As expected after correction dollar regained positive mood as
Switzerland's central bank lowered its benchmark rate to 2% from 2.5
percent.
Upside bias favoured while the rate holds above the daily moving
averages. Break above Chf1.1800 is needed to open the way up to
Chf1.1890/95 (October 2007 high and 61.8% retracement of the sell-off
from Chf1.3285 to this year's low at Chf0.9650) and Chf1.1920.Yesterday's
low Chf1.1570/60 remains the closest support. Monday low at Chf1.1480
(50% Chf1.1750-Chf1.1210 move) is the stronger one. Break of Chf1.1350
and Chf1.1210 is needed to extend losses
to Chf1.1130/00 (10 October low and 38.2% of the up move from
Chf1.0690).