FXstreet.com (Barcelona) After rise 200 pips in the European session from the 1.1460 support, the USD/CHF has found a resistance level at 1.1660 in the beginning of the American session. Then the pair has fallen to be traded closed to the 1.1620 level.
Currently, the pair is trading at the 1.1595/1.1605 band. If the USD/CHF is back and breaks the 1.1660, it will point to the 1.1700 line, Friday's minimum.
According to Peter Rosentreich, Chief Market Analyst at ACM, the return of risk appetite has been beneficial to the Swiss Franc: USDCHF saw the Swissy rise sharply in the final hours of Friday trading as the dollar's decline benefited other currencies. The near 4-figure advance of the Swiss franc against the U.S Dollar comes as a surprise amidst the US - UBS banking secrecy debacle. The return of risk appetite seems to be benefiting the historically stable currencies such as the Swiss Franc and Sterling - rising 5 figures since Friday.