Updating time : 17/04/2008 00:29 GMT

USD/CHF - 0.9993...Although dlr fell sharply fm 1.0112 to 0.9940 in Asia n European morning y'day (in line with greenback's selloff across the board), price was unable to re-test Monday's low at 0.9925 n recovered in U.S. trading in part due to active cross selling in chf, suggesting minor consolidation wud be seen initially in Asia today.

Despite y'day's cross-inspired bounce fm 0.9940, anticipated renewed selling in dlr shud limit upside n another fall to 0.9925/40 is envisaged,however, below there is needed to signal recent decline fm 1.0250 has resumed n extend weakness twds 0.9870/88 sup area.

Looking at the bigger picture, the corrective rise fm last month's record low at 0.9630 has 'possibly' ended earlier at 1.0250 n below 0.9870 wud confirm, yield further fall to 0.9785 n 0.9748 (80.9% r of 0.9630-1.0250).

Therefore, selling on recovery is favoured today. Abv minor res at 1.0088 wud risk re-test of 1.0112 (y'day's high in Australia) but break there is needed to extend to 1.0140/45 n possibly twds 1.0173 res...