The selling pressure is not giving up around the greenback today, now sending USD/CHF to the lower end of the range near 0.9620.
USD/CHF weaker on USD-selling
Spot is retreating since Monday after being rejected from recent peaks just below the 0.9800 handle against the backdrop of a renewed and increased offered bias around the US dollar.
Ahead in the session, the greenback will remain in the limelight with Initial Claims, Chicago PMI and speeches by Fed’s Evans, Williams and Dudley all expected later in the NA session.
USD/CHF key levels
The pair is now down 0.28% at 0.9622 facing the next support at 0.9593 (2016 low Mar.30) followed by 0.9523 (monthly low Sep.18 2015) and then 0.9473 (monthly low Oct.15 2015). On the other hand, a break above 0.9791 (high Mar.25) would aim for 0.9820 (200-day sma) and then 0.9912 (55-day sma).
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(Market News Provided by FXstreet)
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