USD/CHF Halts a 4-day Rally, Attacks 0.9700
The USD bulls finally faced exhaustion and turned in the negative
territory for the first time in five days, mainly driven by persisting
risk-off environment.
USD/CHF fails near 0.9740
Currently,
the USD/CHF pair trades -0.19% lower at 0.9708, languishing near
session lows reached at 0.9707 last minutes. The major edged lower this
session largely on the back of profit-taking after the prices failed to
surpass Friday’s tops. Moreover, the USD bulls took a breather in their
upsurge as markets now await the European open for fresh take on the USD/CHF pair. Further, Swiss CPI report due out shortly will be closely eyed on further momentum on the major.
USD/CHF Technical Levels
To
the upside, the next resistance is located at 0.9738/50 (Apr 28 High/
psychological levels) and above which it could extend gains to 0.9800
(round number). To the downside, immediate support might be located at
0.9682/76 (1h 50-SMA, 20-DMA) and below that 0.9635 (10-DMA).
