Published: Thu, 02 Jul 2009 21:44:00 +0200

Forex: USD/CHF in range between 1.0820 and 1.0860

FXstreet.com (Córdoba) ? The Dollar is rising against the Swiss Franc for the day. Since the American session the pair has been moving inside a range between 1.0860 and 1.0820. So far today the pair is rising 0.87% from the opening price. Against the Euro the Swissy is rising. The pair keeps rising after the Swiss National Bank intervened in the market. EUR/CHF is testing levels below 1.5180 after breaking below the support zone at 1.5200.

Ralph Shell, ForexRazor's analyst, comments: ?It looks like traders are selling the USD off on the CHF, daring the Swiss National Bank to come and intervene again. We prefer the long side in the 1.07/1.0750 range which we hope is close enough to a point where fear of intervention will discourage selling. The EURCHF 1.50 level may be of more concern to the SNB than the USD so let's don't get too aggressive with this trade?.

By Fxstreet.com

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