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Forex: USD/CHF testing the 0.9300 level

FXstreet.com (Barcelona) - The USD/CHF has fallen off the 0.9325 handle Wednesday, as the losses continue to mount during the trading week. At the time of writing, the pair finds itself entrenched in negative territory, down -0.21% and testing the 0.9300 level.

According to Gareth Berry, a Research Analyst at UBS, “We maintain a neutral near-term stance on the USD/CHF – support is at 0.9295 ahead of 0.9230. Meanwhile, resistance is at 0.9375 ahead of 0.9434.”

According to the ICN.com Technical Analyst Team, “The USD/CHF is still trading negatively, affected by breaking the ascending channel and forming the Double Top Pattern shown on graph. Trading below 0.9385 today is negative and stability below it might extend the downside move.”

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