USD/CHF has picked itself up from last weeks pain that was inflicted ahead of the long weekend, as dollar long positions were liquidated when the pair bottomed out at 0.9590.
The pair has drifted higher over the course of the holiday on Monday and managed a high over-night at 0.9706. The pair has failed to extend those gains, even in the event of a disappointing export figure, which had been keeping the Frank offered in the early hours of the European session. At the time of writing, the pair is trading back down at 0.9670 on the SMA200 line, ahead of a supported area on the charts at 0.9650 and 0.9625 (Pivot). 0.9750 comes as next target in a dollar positive environment. Support is seen at 0.9570.