USD/CHF range-bound below 1.0100, awaits Trump’s inaugural speech
|Having posted a session low at 1.0035 level, the USD/CHF pair regained traction and reversed previous session mild losses.
Currently trading around 1.0070 region, off session peak level of 1.0094, a fresh wave of greenback buying interest since European opening session helped the pair to recovery from daily lows.
The pair, however, remained capped below 1.0100 round figure mark as investors preferred to stary on the sidelines ahead of Donald Trump’s inauguration speech.
Investors await for clarity on Trump's fiscal policies before reaffirming strong US Dollar bullish trend, which would assist the pair to resume with its prior appreciating move.
Moreover, indication of positive start in the US equity markets has failed to benefit the Swiss Franc's safe-haven appeal and collaborating to the pair's cautious bullish bias.
Technical level to watch
Bulls would be eyeing to reclaim 1.0100 handle above which a fresh leg of up-move is likely to lift the pair towards 1.0160-65 horizontal resistance before lifting it further beyond 1.0200 round figure mark.
On the downside, renewed weakness below 1.0040 immediate support is likely to accelerate the slide towards parity mark, which if broken decisively has the potential to drag the pair towards 100-day SMA support near 0.9965 region.
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