4-hour chart shows that:

FXStreet (Mumbai) - USD/CHF dived more than 100 pips in the European session, falling back on the 0.92 barrier, largely on the back of soaring EUR/USD which strengthened the Swiss franc.

USD/CHF supported at 0.92 handle

Currently, the USD/CHF plunged -1.30% at 0.9222, hovering close to fresh session lows reached at 0.9212 some minutes ago. The pair fell deeper in red after the Swiss franc was boosted tracking gains from the EUR/USD pair which is nearing the key resistance at 1.1280 levels.

Meanwhile, the US dollar index (DXY) which measures the relative strength of the greenback versus six major currencies now trades at 94.34, down -0.81% on the day.

FXStreet (Mumbai) - USD/CHF extends gains for the second straight session, testing 0.96 barrier yet another time, as the US dollar continues its rise across the board, mainly driven by technical buying amid a data-light day ahead.

The level of economic expectations deteriorated sharply in Switzerland. Economists expect the recession in the Swiss economy in the current year.

USDCHF broke through the 0.9300 resistance. Experts point out the USDCHF increase since the beginning of the year. Growth began after the turn from 0.8700. The same was the turning point in May 2014. Prior to this, the pair broke the resistance at 0.9300.

The Swiss franc moved away from the two-week low against the U.S. dollar. The uncertainty of the conflict in Ukraine intensify the demand for a stable currency that consolidate the CHF and JPY.