FXstreet.com (Córdoba) - As the dollar weakens across the board and given the high correlation between the euro and the franc, USD/CHF came under pressure and broke below the 0.9200 psychological level during the American afternoon.

USD/CHF dropped over 60 pips within the last hours and hit its lowest level since early May at 0.92165 before slowing the decline. At time of writing, USD/CHF is quoting at the 0.9170 zone, 0.7% below its opening price.

On the downside, next support levels could be found at 0.9115 (May 4 low), 0.9100 (psychological level) and 0.9075 (May 2 low). On the upside, resistances on bounces are now seen at 0.9215 (Oct lows), 0.9240 (Dec 3 low) and 0.9280 (10-day SMA).