The USD/CHF pair has broken the 55-day average at 0.9200/9185, which suggests scope for 0.9116/9094, then 0.9047/31, where analysts at Credit Suisse would look for a floor. USD/CHF has closed below important support at 0.9200/9185, turning the short-term risk lower “USD/CHF has closed below key support at 0.9200/9185, which is the 38.2% retracement of the Q1 upmove, an important psychological inflection point and the rising 55-day average. This suggests a much deeper move lower is beginning, with scope for the 50% retracement next at 0.9116, then the 200-day average at 0.9100/9094. Whilst we would look for an attempt to hold here, we note that the next support is seen at 0.9047/27, where we would have more confidence in a floor.” “Bigger picture, trend following indicators such as moving averages maintain a bullish ‘golden cross’, with weekly MACD staying outright bullish.” “Our base case is that this is still a corrective move lower, with resistance seen initially at 0.9246, above which would confirm a small base for a reversal back higher, with the next initial level at 0.9282/89.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/SEK: Long-term outlook is bearish and targets the 7.66 mark – Commerzbank FX Street 2 years The USD/CHF pair has broken the 55-day average at 0.9200/9185, which suggests scope for 0.9116/9094, then 0.9047/31, where analysts at Credit Suisse would look for a floor. USD/CHF has closed below important support at 0.9200/9185, turning the short-term risk lower "USD/CHF has closed below key support at 0.9200/9185, which is the 38.2% retracement of the Q1 upmove, an important psychological inflection point and the rising 55-day average. This suggests a much deeper move lower is beginning, with scope for the 50% retracement next at 0.9116, then the 200-day average at 0.9100/9094. Whilst we would look for an attempt to hold… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.