After rising around 100 pips from 1.1260 today's opening price to test the 1.1360 resistance level in the late Asian session, the USD/CHF has fallen to test the 1.1300 level in the European morning. Currently the pair is trading around 1.1300/10 after rising 0.40% so far today from opening price.
Yesterday, the USd lost 0.94% against the CHF from 1.1367 opening price, reaching 1.1422 as highest and 1.1249 as lowest, to close the day at 1.1260.
According to the Swiss e Trade Strategy Team, the commodity−related currencies are in recovery mood: "The Canadian and Australian dollar strengthened recently against the USD and the EUR, reflecting more confidence in a recovering world economy... The dollar is in a weak condition against the Swiss franc in early European trading, although with low volatility - right now priced at 1.1310, approaching its recent lows around 1.1250. We expect these lows to be tested again today."
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