FXstreet.com (Barcelona) - After trading in a small range between 1.1680 and 1.1720 since the beginning of the yesterday session, USD/CHF is testing the 1.1680 support again.

Last hour the pair fell 25 pips from 1.1700 to 1.1674. Currently USD/CHF is trading around 1.1685/95.

According to Peter Rosentreich, Analyst at ACM - Advanced Currency Markets, USD/CHF is trading sideways: We flirted with the 23.60% retracement at 1.1678 on the 1.1465 - 1.1744 move and are set to do it again. We see the pair trade sideways as we await further data and developments on the risk front. A return to risk appetite would see the pair trade lower towards 1.1647 and 1.1465 for a longer term view. On the upside (and as risk aversion continues) our initial target stands at 1.1744 then 1.1784.

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