USD/CHF rebounds from 0.9800, reclaims 0.9840

After bottoming out in the 0.9800 neighbourhood, USD/CHF has now embarked on a recovery towards the 0.9835/40 band.

USD/CHF lower on USD-selling

The resurgence of the offered bias around the greenback has dragged spot back to the 0.9800 region today, fading the earlier test of the key 200-day sma in the mid-0.9800s.

Anyway, the pair keeps the trade closer to the upper end of the recent range in the 0.9850/70 band ahead of today’s key speeches by FOMC’s Tarullo and Bullard.

Absent significant releases in Switzerland ahead in the week, USD dynamics and risk appetite trends will keep dictating the pair’s price action.

USD/CHF key levels

The pair is now up 0.02% at 0.9831 facing the next hurdle at 0.9873 (high Jul.11) followed by 0.9960 (high May 30) and finally 1.0098 (high Mar.10). On the flip side, a breach of 0.9732 (20-day sma) would open the door to 0.9684 (low Jul.5) and finally 0.9517 (low Jun.23).