FX.co ★ USD/CHF: Downward pressure

Overview:
USD/CHF is trading with risks skewed lower. The rate is undermined by spillover strength from euro; broadly weaker demand for safe-haven USD amid positive investor risk appetite. But CHF sentiment dented by drop in Swiss ZEW-Credit Suisse indicator of economic sentiment to 2.3 in March from 10.0 in February. Data focus: 07:00 GMT Swiss February trade balance. Daily chart is negative-biased as MACD and stochastics are in bearish mode; five-day moving average is staging bearish crossover against 15-day MA.
Recommendation:
Sell below 0.949 with downside targets at 0.941 and 0.938.
Support levels:
0.9408 (Wednesday's low)
0.9385-0.9377 band (Monday's low-Friday's low)
0.9352 (March 1 low)
Alternative scenario:
Buy above 0.949 with upside targets at 0.953 and 0.9567.
Resistance levels:
R1 - 0.953
R2 - 0.9567 (six-month high hit March 14)
R3 - 0.9608 (Sept. 5 high).