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Forex: USD/CHF recovers from 0.9435 and tests 0.9475

After falling around 70 pips in the European session from 0.9505 to reach daily lows at 0.9435, the USD/CHF has been trading in recovery mode to test the 0.9475 resistance. Currently the pair is trading at 0.9470.

With 0.05% daily gains, the FXstreet.com trend index remains strongly bearish for the USD/CHF with the MACD, CCI and Momentum indicators pointing bearish while Stochastic and RSI are neutral in the 1-hour chart.

The USD/CHF would face resistances at 0.9475, 0.9500 and 0.9520. While supports come at 0.9465, 0.9435 and 0.9420.

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