The USD/CHF extended previous session's rejection slide from the 0.9700 handle and touched a session low near 0.9570 area during early NA session.
Renewed geopolitical tension, following N. Korea's latest missile launch on Friday, remained supportive for the Swiss Franc's safe-haven appeal and had been one of the key factors weighing on the major since early Asian session on Friday.
The disappointing consumer spending data, to some extent, was negated by better-than-expected Empire State Manufacturing Index, coming-in at 24.4 for September as compared to a reading of 19 expected, and helped limit deeper losses.
Today's US economic docket also features the release of industrial production data and Prelim UoM Consumer Sentiment, which would now be looked upon for some immediate respite for the USD bulls.
Technical levels to watch
A follow through selling pressure has the potential to continue dragging the pair towards mid-0.9500s en-route its next support near 0.9520 level. On the upside, any recovery move might now confront fresh supply near 0.9640 level, followed by 100-day SMA strong hurdle near the 0.9690-0.9700 region.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.