Updating time : 14/12/2007 00:57 GMT

USD/CHF - 1.1323...Despite yesterday's initial retreat to 1.1298, price rebounded strongly due to dlr's intra-day broad-based strength in European morning together with selling of chf in crosses, once this week's top at 1.1402 was penetrated, price then rallied to 1.1451 in NY morning b4 easing.

Although the rise to 1.1452 confirms upmove fm 07' low at 1.0889 to correct dlr's MT downtrend remains in progress n further headway twd 1.1483 is now envisaged, being 62% proj. of intermediate rise fm 1.0956-1.1355 measured fm 1.1236, as 15 min. & hourly oscillators readings wud display bearish divergences on such a move, reckon 1.1552 wud cap upside n risk has increased of a much needed retracement of recent upmove to take place next week.

So whilst buying the greenback on dips in anticipation of gain to above-mentioned target is favoured, profit shud be taken on next rise. On the downside, below 1.1355/63 (prev. res area) anytime wud confirm a temporary top is made n risk stronger retracement twd 1.1398 but sup at 1.1236 shud contain weakness n yield another rise later this month...