FXStreet (Mumbai) – USD/CHF stalled its upward trajectory and extended its overnight side-trend in Asia, as the USD bulls took a breather in its rally following the US macro data-led strength seen on Tuesday.
USD/CHF upside capped at 0.9388
Currently, the USD/CHF pair trades flat at 0.9337, in a flat-lining above 0.93 handle. The US dollar paused its advance in early Asian moves, after spiking above the one-month downward channel as the another cheerful housing market update along with renewed focus on monetary divergence provided much needed- impetus to the USD bulls.
The dollar index which measures the greenback’s strength against its major peers, now trades muted around 95.60, striving for a retest of previous highs at 95.89.
Meanwhile, markets will now monitor Greece headlines in the session ahead as Euro group meet up for the second time this week on expectations of finding a Greek solution.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9343 (Today’s High) levels and above which it could extend gains to 0.9388 (June 23 High) levels. To the downside, immediate support might be located at 0.9300 levels and below that at 0.9272 (June 15 Low) levels.
(Market News Provided by FXstreet)