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Forex pairs in this Article » USD/CHF (Barcelona) - Dollar recovery attempt from 0.8440 low on Friday extended over the Asian session, reaching day high at 0.8515, and the pair retreated sharply at European session opening, hammered by risk aversion amid concerns about Greece's fiscal health, reaching Friday lows at 0.8555.

The pair lies right above 0.8440 (Jun 17 low), below here, next support levels could be at 0.8380 (intra-day support) and 0.8350 (Jun 14 low). On the upside, support levels lie at 0.8515 (day high), and above here, 0.8550 (Jun 15/16 highs) and 0.8600 (intra-day resistance).

Breach of 0.8440 would mark the end of the recovery phase, according to Slobodan Drvenica, technical analyst at Windsor Brokers Ltd: "On the downside, loss of 0.8440, would risk fresh weakness below 0.8400 and likely signal an end of recovery phase."
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