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Forex: USD/CHF challenges 0.9500

FXstreet.com (Córdoba) - The Swiss franc remains among the worst performers on Wednesday, having fallen to a fresh 3-week low versus the greenback. USD/CHF managed to break above the 0.9470 resistance area and stretched to its strongest level since Apr 4 at 0.9498 before easing slightly. At time of writing, the cross is trading around 0.9485/90, still up 0.5% on the day.

The CHF came under pressure on Tuesday and slumped across the board amid rumors the SNB could raise its peg for EUR/CHF from 1.20 to 1.25.

As for technical levels, if USD/CHF manages to break decisively above 0.9500, nest resistances could be faced at 0.9525 (high Apr 1) and 0.9552 (high Mar 27). On the other hand, immediate supports are seen at 0.9440 (daily low), 0.9400 (psychological level) and 0.9380 (21-day SMA).

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