FXStreet (Mumbai) - The bid tone around the CHF strengthens as we head into the mid-European trades, pushing USD/CHF to fresh session lows as the persisting risk-off moods heightened amid falling European stocks. USD/CHF breaches hourly 200-SMA support at 1.0169 Currently, the USD/CHF pair trades -0.19% lower at 1.0168, languishing near fresh session lows printed at 1.0159 some minutes ago. A renewed bout of risk-aversion hit Europe as the oil price recovery faltered, and therefore, triggered fresh selling in the European stocks. Hence, investors ran for cover in the safe-haven Swiss franc in a bid to protect their capital amid the global sell-off. Moreover, the US dollar was sold into the persistent risk-off environment against its major peers, which further added to the losses in the USD/CHF. The USD index drops -0.17% to 98.69. While expectations of weaker employment report from the US in the session ahead also pressured the major. The ADP employment change is expected to show private sector jobs additions at 193,000 after 257,000 booked in Jan. USD/CHF Technical Levels To the upside, the next resistance is located 1.0193/1.0200 (Daily High/ psychological levels) and above which it could extend gains to 1.0255 (Feb 1 High). To the downside, immediate support might be located at 1.0131/28 (daily S2/ Jan 29 Low) and below that 1.0116/07 (20-DMA/ Jan 28 Low). For more information, read our latest forex news.