USDCHF breaks through intraday support as Bernanke testimony pressures the dollar

The USDCHF moves below the support area for the pair. Support at 1.0975 and 1.0970 gave way and the market scooted lower. The threat of intervention remains, but the market is more intent on dollar selling at the moment as the Senate hearing weighs on the potential stability of the Fed/Bernanke. The opening remarks suggest a heated discussion is likely. Expect choppy trade to continue. The low for the day reached down to 1.0920. Risks are increased in the market while rewards are uncertain.




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