Published: Mon, 18 May 2009 15:10:00 +0200

Forex: USD/CHF: Rejection from 1.1260 pulls the Dollar below 1.1200

!--TITOL: h1Forex: USD/CHF: Rejection from 1.1260 pulls the Dollar below 1.1200FITITOL--FXstreet.com (Barcelona) - Dollar rally from 1.1040 low last Friday has capped at 1.1245 resistance area, and the Dollar has pulled back to levels right at 1.1200, above 1.1185 support.br /br /On a longer term, the a href="http://www.fxstreet.com/technical/analysis-reports/fx-thoughts-for-the-day/2009-05-18.html"Kshitij Consultancy Service Team/a, expects the pair to remain between 1.1170 and 1.1360: " Overall, the pair looks likely to be ranged between 1.1170-1.1360 over the next few days which is bound by the 50% and 62.8% retracement of the rise from 1.0371 (29 Dec 2008) to 1.1968 (12 Mar 2009) at the bottom and the top respectively."br /br /Immediate support lies at 1.1185, below there, 1.1160 and 1.1120. On the upside, initial resistance area lies at 1.1260 intra-day high, and above there, 1.1310 and 1.1335 (May 8 high).br /For more information, read our latest a href="http://www.fxstreet.com/news/forex-news/"forex news/a.div a href="http://feeds.fxstreet.com/~ff/news/forex-news?a=X-fjADyRxIk:sky19ygrOcw:yIl2AUoC8zA"img src="http://feeds2.feedburner.com/~ff/news/forex-news?d=yIl2AUoC8zA" border="0"/img/a /div

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