USD/CHF advances further to test 0.9950

Dhwani Mehta FXStreet

The US dollar caught fresh bids versus its Swiss franc over the last hour, driving USD/CHF higher to reclaim 0.9950 levels.

USD/CHF eyeing a decisive break above 0.9960

Currently, the USD/CHF pair trades +0.16% higher near fresh session highs of 0.9951, having found strong support just ahead of 0.99 handle. The USD/CHF pair is seen consolidating the upside, as the bulls gear up for a run-up towards parity amid ongoing bullish momentum seen in the US dollar versus its six major peers.

Meanwhile, the USD index regains poise and jumps +0.15% to retest daily tops posted previously at 98.81 levels.

Nothing of note for the major in the European session and hence, attention turns towards the US macro updates due later in the NA session.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9962 (multi-month highs) and above which it could extend gains to 0.9974 (mid-Fed high) and 1.0000 (parity) next. To the downside, immediate support might be located at 0.9910 (daily low) and below that 0.9864 (20-DMA) and from there to 0.9795 (50-DMA).

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Strongly Bearish	Neutral	High
1H	Bearish	Overbought	Low
4H	Bullish	Neutral	Low
1D	Bearish	Overbought	Low
1W	Bullish	Overbought	Low
Updated Oct 25, 07:30 GMT

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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