USD/CHF heads for a test of Tuesday’s high, Fed speaks eyed
|The US dollar tries hard to build onto yesterday’s gains against its Swiss counterpart, now pushing USD/CHF further beyond 0.97 handle.
USD/CHF eyes Tuesday’s high
Currently, the USD/CHF pair trades +0.15% higher at fresh session highs of 0.9723, looking to extend the upside beyond 0.9750 levels. USD/CHF bounced-off a brief dip below 0.97 handle and now extends further into positive territory above the last, as the US dollar regains poise against most of its major peers ahead of the European open.
Moreover, with the European indices futures indicating a positive start to the European markets, risk conditions appear to have improved, also supporting the renewed uptick in the major. While markets shrugged-off upbeat Swiss data, which showed that the Swiss consumption indicator jumped to 1.53 versus 1.45 previous. More so, the KOF economic barometer also rose to 100.5 versus 99.8 previous.
Focus will continue to remain on the USD price-action ahead of the US economic releases and a string of Fed speaks due later in the NA session.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9740/42 (100-DMA & daily R1) and above which it could extend gains to 0.9774 (200-DMA). To the downside, immediate support might be located at 0.9667 (daily S1) and below that 0.9628 (Aug 26 low).
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