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USD/CHF rises to test 0.9200

Propelled by renewed risk aversion, the Dollar rallied against most competitors during the New York session, having risen to test the 0.9200 resistance level against the Franc.

USD/CHF extended gains to a 3-day high of 0.9200 in recent dealings, but lacked momentum to rise beyond that level, and at time of writing the pair trades around 0.9185, posting a 0.9% gain on the day.

From a technical view, "Rally cleared initial barriers at 0.9130/50, but regain of 0.9170/80 zone is required to confirm higher low at 0.9090 and look for retest of very strong resistance at 0.9220, where previous high of 05 Apr lies, along with 90 day MA and main bear trendline connecting 0.9593 and 0.9333 peaks", says Slobodan Drvenica, analyst at Windsor Brokers Ltd.


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