Forex: USD/CHF collapses to 11-day lows at 0.9275

FXstreet.com (San Francisco) - The US dollar is falling hard against the Swiss franc following the bad Chicago PMI and despite the US consumer confidence well above expectation figures. The USD/CHF has fallen around 90 pips in the latest two hours from 0.9365 to reach the lowest level since April 19 at 0.9275.

Currently the pair is trading at 0.9295, 0.72% negative on the day. The pair is strongly bearish according to the FXstreet.com trend index with indicators such as MACD, CCI and Momentum pointing south while the Stochastic is neutral in the 15-minute chart.

Below the 0.9275, next supports are at 0.9260 and 0.9210. On the upside, resistances are at 0.9350, 0.9385 and the 0.9400.