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Forex: USD/CHF stalls at 0.9200

The US dollar extended gains versus the franc during the American session but stalled just at the 0.9200 psychological level, not before printing a 1-week high.

Aside of the technical resistance, the USD/CHF pulled back from the 0.9200 area given the decline in risk aversion. USD/CHF is currently trading at the 0.9185 zone, where it records a 0.9% gain on the day.

Above 0.9200, next resistances for USD/CHF are seen at 0.9210 (21-day SMA), 0.9225 (high Jan 30), and 0.9270 (high Jan 29). On the downside, supports could be found at 0.9090 (100-hour SMA), 0.9060 (intraday low) and 0.9025 (low Feb 1).

USD/CHF rose over 140 pips from daily lows, propelled by broad USD strength and Draghi's comments, which saw EUR/USD slump.

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