USD/CHF Calm

USD/CHF Daily analysis kept simple. Price has now shown a strong close below the 0.94945 support, we would now like to see further continuation to the downside towards 0.93045. A retest of the 0.94945 resistance would warrant a short position.

Bears can take the pair to a low level of 0.9304 as seen on the chart. On the flip side, bulls have the chance to go to 0.9680 and touch the resistance level. If they manage to break it, the way to the upside will be open to the 200SMA.

Tomorrow's US data may very well play a role in developing both scenarios. The US dollar is having a quiet week so far as traders and investors are just getting back on track with their participation in the market.

Chart: USD/CHF D1