FX Update- USD/CHF
USD/CHF, down 0.45% to 1.0926, is trading near session lows mid-way through the afternoon session as a result of continued selling pressure in equities and the strong rebound in energies; this despite the SNB’s Roth reduced growth outlook for the Swiss economy. USD/CHF is trading just below Thursday’s close with the 21 and 200-Day moving averages at convergence under price at 1.0626. USD/CHF has consolidation around 1.10 over the past four sessions and is testing lower trend line support from its upward trend staring mid-July. USD/CHF is currently in between 2/3 (1.062) and ¾ (1.115) retracement from its March 14th low at 0.963.