Forex: USD/CHF recovers ground and test 0.9300

FXstreet.com (San Francisco) - After falling around 50 pips from 0.9330 in the American session, the USD/CHF found support at 0.9280 with the pair trading in range between 0.9285 and 0.9295 in the mid session. But in the latest feww minutes, the USD/CHF has advanced to test the 0.9300 area.

Currently the pair is trading around 0.9295, 0.12% below opening price. The USD/CHF remains strongly bearish according to the FXstreet.com trend index. MACD, CCI and momentum indicators are bearish while the Stochastic is bullish in the 1-hour timeframe.

Next supports are at the 0.9280 (Feb 28 and April 11 lows), 0.9230 (0.61% Fibo retracement from Feb 21 to March 14 uptrend) and the 0.9150. On the upside, resistances are at 0.9300, 0.9315 and 0.9330.