USD/CHF Price Analysis: The swissy is on the backfoot as risk bounces back

USD/CHF bulls are moving in as risk appetite improves.
The daily chart's old support is a compelling target that aligns with a 50% mean reversion.

Ross J Burland FXStreet

The Swiss franc is being hit as the bulls move in on diplomatic hope between NATO and Russia and this has given risk a boost in Asia. USD/CHF has rallied and is up 0.15% at the time of writing. There is room for a test of the prior lows on the daily chart as follows:

USD/CHF daily chart

As illustrated, the 50% mean reversion target aligns with the old daily support near 0.9230. However, the price is headed into hourly resistance that could prove troublesome for bulls at this juncture:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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