The demand for the Swiss franc is now picking up pace, dragging USD/CHF to test the 0.9820/10 band, or session lows. USD/CHF lower on risk aversion Spot has gathered further downside pressure in response to the persistent risk-off trade in the global markets. Generalized unease regarding global growth has triggered a wave of risk aversion early in Asia, dragging the Nikkei 225 to drop more than 5% and boosting the demand for safe haven currencies. In the meantime, spot has slipped to 2-month lows in the 0.9825/20 band following a continuation of the offered tone around the dollar and CHF-buying. USD/CHF significant levels The pair is now retreating 0.57% at 0.9811 facing the next support at 0.9784 (low Dec.14) ahead of 0.9728 (200-day sma) and finally 0.9700 (psychological handle) On the other hand, a surpass of 0.9940 (100-day sma) would open the door to 0.9979 (high Feb.8) and then 1.0012 (55-day sma). For more information, read our latest forex news.