USD/CHF Off Highs, Returns to 0.9640
After a test of session highs in the 0.9655/60 band during overnight trade, USD/CHF has now returned to the 0.9640 area, fading the initial upbeat momentum.
USD/CHF supported near 0.9570
The pair has managed to revert the recent drop to the 0.9570 area following a pick up in the demand for the greenback. In fact, the US dollar has been revitalized after expectations of a rate hike by the Fed in July seems to have picked up pace somehow as of late, allowing the bounce.
Absent releases in the Alpine economy, US advanced Consumer Sentiment tracked by the Reuters/Michigan index will grab all the attention later in the NA session, with consensus expecting the index to have eased to 94.0 for the current month.
USD/CHF key levels
The pair is now retreating 0.03% at 0.9643 facing the next support at 0.9577 (low Jun.8) ahead of 0.9495 (low Apr.12) and then 0.9440 (2016 low May 3). On the other hand, a breakout of 0.9715 (55-day sma) would aim for 0.9800 (100-day sma) and finally 0.9824 (20-day sma).