USD/CHF sits at two-year lows amid global flight to safety

The Swiss Franc is back in focus on Tuesday, with the USD/CHF pair plummeting to its lowest level since August 2015.

The pair came under intense selling pressure and tumbled over 100-pips from session tops near mid-0.9500s amid renewed safe-haven demand, following N. Korea's latest ballistic missile launch over Japan that rattled global financial markets.

The combined with persistent greenback selling bias, with the key US Dollar Index sinking to its lowest level in more than two-years further aggravated the bearish pressure.

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Meanwhile, possibilities of some stops being triggered on a decisive break below the key 0.95 psychological mark could have also contributed to the pair's sharp fall since early European trading session.

The downfall, however, seems to have stalled for the time being as traders now look forward to the release of CB Consumer Confidence Index from the US for some fresh impetus.

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Technical levels to watch

A follow through weakness below 0.9430 level might continue to drag the pair towards the 0.9400 handle en-route 0.9365-60 horizontal support. On the upside, the 0.9475-80 region now seems to act as immediate resistance, which is closely followed by resistance at the 0.95 handle.