USD/CHF hovers around 0.9200 after failure at 0.9225

The U. S. dollar has hesitated around 0.9200 on Tuesday. As the USD/CHF pair was able to rebound from 7 week lows at 0.9150, it found resistance at 0.9225 earlier today.

As for the broader picture, the USD/CHF remains trapped within a clear downtrend from September highs at 0.9365.
The US dollar is still looking for direction ahead of Central Banks’ meetings, The U. S. dollar’s recovery has lost momentum, with the pair unable to maintain the positive tone seen on Monday in spite of the market sentiment seen during the European and U. S. market sessions and the positive U. S. macroeconomic data.

The USD Index has reversed earlier losses, after bouncing at 93.68, returning to 94.00 area, on the back of the positive market sentiment triggered by upbeat earnings reports.

U. S. new home sales surged 14% in September to a six-month high of 800,000 units sold, with the Richmond Fed manufacturing Index improving beyond expectations and consumer confidence improving unexpectedly in October.