USD/CHF Retreats from Highs, Tests 0.9700
The greenback keeps alive its march north on Tuesday, although USD/CHF has retreated from highs and returned to the 0.9700 neighbourhood.
USD/CHF lost momentum near 55-DMA
Spot
has started the week on the wrong footing, although it so far manages
to keep the trade above the 0.9700 handle amidst a renewed sentiment
towards the greenback. However, gains appear to have lost some momentum
in the 0.9730 area, where sits the 55-day sma, prompting sellers to
drive the pair to the current area near the 0.9700 key support.
In
the data space, Swiss unemployment has ticked higher to a seasonally
adjusted 3.5% during April, while the speech by FOMC’s W.Dudley and the
NFIB index are due later in the NA session.
USD/CHF key levels
The
pair is now advancing 0.01% at 0.9712 facing the next up barrier at of
0.9730 (55-day sma) followed by 0.9802 (high Apr.22) and finally 0.9834
(200-day sma). On the other hand, a breach of 0.9677 (20-day sma) would
expose 0.9441 (2016 high May 3) and then 0.9419 (monthly low Jul.9
2015).
