Updating time : 03/12/2007 00:34 GMT

USD/CHF - 1.1298...Dlr retreated fm 1.1073 to 1.0956 last Monday b4 rallying to 1.1328 (Friday's high) in line with the broad-based rebound in the greenback n also active cross selling in chf (eur/chf traded abv Nov 23 low at 1.6300 n rose strongly to 1.6586).

Last week's rally pushed price abv the 13-day ema for the first time since October n signals MT downtrend has indeed formed a low last month at 1.0889 n consolidation with upside bias is seen for correction of the intermediate fall fm 1.1895, bring further gain to 1.1393 (natural half retrace. of 1.1895-1.0889) n then 1.1422 (prev. sup) but 1.1490/1.1511 (Nov 2 low n 61.8% r of 1.1895-1.0889) shud remain intact n yield retreat.

Below 1.1209 (prev. res) wud bring pullback to 1.1156/62 but only break of 1.1098 (Nov 28 NY low) wud indicate aforesaid rise fm 1.0889 has being retraced n extend weakness to 1.1057 (61.8% r of 1.0889-1.1328).

Today, buying dips for one more rise to 1.1360 is favoured but o/bot condition shud limit gain to 1.1393 n readers can venture selling on such upmove...

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