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USD/CHF bounced at 0.9430 to trade back above 0.9450... but it failed

FXStreet (San Francisco) - USD/CHF fell from daily highs around 0.9475 earlier in the day to find support at 0.9430 where the pair found some buying interest as the greenback is trading in the defensive. However, the pair's rebound failed to hold it above 0.9450 and now the pair is pricing back at lows.

Currently, USD/CHF is trading at 0.9450, down 0.11% on the day, having posted a daily high at 0.9482 and low at 0.9431. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.

USD/CHF sentiment

According to Karen Jones, analyst at Commerzbank, the "risk remains for a retest of 0.9371 (38.2% retracement)."

If the pair manages to break below the 0.9430, next supports are at 0.9405, 0.9395 and 0.9360. On the upside, resistances are at 0.9455, 0.9475 and 0.9490. However, as noted in a recent FXStreet article: "Since last Thursday the pair is moving in ranges, sideways with support above 0.9395 and resistance around the 0.9480 area."

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