USD/CHF: Bears in control amid weaker DXY and risk-off

The USD/CHF pair is on the offers and eyes a break below 200-DMA support located at 0.9951, as the USD bears are in complete control amid slightly risk-averse market conditions.

USD/CHF shrugs-off SNB Jordan’s comments at G20

Currently, the USD/CHF pair drops -0.26% to fresh daily lows of 0.9958, losing sight of 0.10 handle, in response to a fresh selling-wave seen hitting the US dollar versus its main competitors, as the European traders hit their desks and continue to sell-off the buck amid last week’s dovish FOMC outcome.

Moreover, the Swiss franc remains unperturbed by SNB Chairman Jordan’s comments on the local currency, keeps the bids intact also in the wake of increased demand for safe-havens, as dust settles over a bunch of central banks’ policy decisions and G20 meeting conclusion.

Meanwhile, the spot will closely track the USD price-action in absence of relevant economic news from both Switzerland and the US.

USD/CHF Technical Levels    

To the upside, the next resistances are seen near 1.0000 (parity) and 1.0028/39 (50 & 10-DMA) and from there to 1.0070/99 (20 & 100-DMA). To the downside, immediate support might be located at 0.9951 (200-DMA) and below that at 0.9932 (Feb 9 low) and at 0.9900 (psychological levels).

    1. R3 0.9996
    2. R2 0.9991
    3. R1 0.9983
  1. PP 0.9978
    1. S1 0.9970
    2. S2 0.9965
    3. S3 0.9957