USD/CHF flirts with highs near 0.9560

The USD/CHF pair attempted a tepid-recovery from near 0.9535 region, and now consolidates the downside before the next leg lower.

USD/CHF tracks broad USD recovery

Currently, the USD/CHF pair trades +0.18% higher at 0.9558, having printed fresh session highs at 0.9564 earlier on the day. USD/CHF takes remains well bid and takes on the recovery towards 0.96 handle, largely backed by the ongoing recovery seen in the US dollar against its six major peers. Meanwhile, the USD index advances +0.21% at 94.33, recovering from new two-month lows reached yesterday at 94.05 levels.

Moreover, positive tone seen around the Asian equities, once again towards close, also lifts the overall market sentiment and weighs negatively on the safe-haven CHF. Looking ahead, the persisting risk sentiment will continue to drive markets, in absence of relevant economic news across the globe.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9613 (5-DMA) and above which it could extend gains to 0.9688 (10-DMA). To the downside, immediate support might be located at 0.9517/04 (2-month low/ daily S1) and below that 0.9450 (psychological levels).