Forex News - USD/CHF has broken back over the prior 0.8960 high, seen in the daily timeframe. This now increases the probability of a re-test of the 61.8% retrace of the 0.9316-0.8568 fall near 0.9000. A lower high would still be expected to form in this region. Medium-term structure is suggestive of a re-test of the zone close to 0.8242 ahead of a possible return to 0.9316. However, should EUR/CHF reach the 1.2000 level again, then movement in USD/CHF may be effected by the efforts of the SNB to maintain the floor in EUR/CHF. Back under 0.7712 is required to change the medium-term bullish bias.
