USD/CHF Aases-Off Two-Week High in Sync with USD Index
The USD/CHF
pair ran through offers near 0.9680 region and now turns negative as
the spot mirrors the greenback’s moves against its major rivals.
USD/CHF flat-lined above 0.9660
Currently,
the USD/CHF pair trades modestly flat at 0.9666, retreating from fresh
two-week tops printed yesterday at 0.9688. The major is seen
consolidating the upside in an extremely slim range and now comes under
renewed selling pressure, as the US dollar wipes-out minor gains and
turns in the negative territory against a basket of currencies.
Moreover,
markets appear to have ignored optimistic Chinese macro releases and
remain cautious amid persisting mixed sentiment heading into weekend’s
oil producers’ meeting in Doha on output freeze talks. Meanwhile, all
eyes remain on a fresh batch of US macro data for fresh direction.
USD/CHF Technical Levels
To
the upside, the next resistance is located at 0.9700 (round number) and
above which it could extend gains to 0.9776 (50-DMA). To the downside,
immediate support might be located at 0.9629/20 (20 & 5-DMA) and
below that 0.9600 (psychological levels/ 1h 100-SMA).
(Market News Provided by FXstreet)
