USD/CHF's recovery tests the 0.8800

FXStreet (San Francisco) - After a brief 0.8800 test, the USD/CHF retraced around 20 pips to price at 0.8720 just before the NY lunch; however, the pair bounced at this level and now it's testing the 0.8800 level again.

Currently, USD/CHF is trading at 0.8795, up 0.42% on the day, having posted a daily high at 0.8808 and low at 0.8759. USD/CHF spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.

USD/CHF levels

If the pair breaks above the 0.8800, the USD/CHF would face resistances at 0.8810, 0.8825 and 0.8840. On the downside, supports are at 0.8780, 0.8760 and 0.8740.