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Forex: USD/CHF declines below 0.9400

FXstreet.com (San Francisco) - After rejecting the 0.9435, May's high, and trading back at 0.9385, the USD/CHF attempted to recover ground but the movement was capped at 0.9417 where it started a bearish wave to price below the 0.9400 level at 0.9390.

Currently the USD/CHF is trading at 0.9400, 0.20% above opening price. The pair is slightly bearish according to the FXstreet.com trend index with indicators such as CCI and Momentum pointing to the south while the MACD is neutral and the Stochastic is bullish in the 15-minute chart.

Below the 0.9400, next supports are at 0.9380 and 0.9365. On the upside, resistances are at 0.9415, 0.9435 and 0.9445.

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