USD/CHF Better Bid Around 0.9580, Session Highs
The USD/CHF pair
is seen defending the bids amid broad based USD softness, as a lack of
fresh fundamental drivers amid holiday-quiet markets, keep the major
largely muted.
USD/CHF fails near 0.9600
Currently,
the USD/CHF pair trades almost unchanged at 0.9582, easing slightly
from fresh session highs printed at 0.9585 in late-Asia. The major is
seen consolidating the recent recovery mode from 0.9440 levels and now
looks set to conquer 0.96 handle amid improved risk sentiment reflected
by Euro Stoxx 50 futures posting moderate gains in early European
trading.
Amid light trading, markets now await the US
unemployment claims in order to gauge the strength in the US economic
recovery and hence, on the Fed rate hike prospects.
USD/CHF Technical Levels
To
the upside, the next resistance is located at 0.9600/29 (round number/
10-DMA) and above which it could extend gains to 0.9645/58 (1h 200-SMA/
20-DMA). To the downside, immediate support might be located at
0.9507/00 (daily S2) and below that 0.9446 (9-month low).