USD/CHF manages to regain 0.9800 in early trades

The USD/CHF pair treads water near 0.98 handle, although remains under mild bearish pressure, extending its weakness into a third day today.

USD/CHF bounced-off 0.9798

Currently, the USD/CHF pair trades modestly flat at 0.9805, hovering within a striking distance of session lows reached previously at 0.9798. The major oscillates back and forth in a 20-pips narrow range, unable to find a clear direction amid a largely subdued US dollar and a cautious tone prevalent in the markets heading towards the European open.

Next of relevance for the major remains the US economic releases due later in the NA session, with the inflation and retail trade figures eagerly awaited to gauge the strength of the US economy.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9858 (200-DMA) and above which it could extend gains to 0.9894 (previous highs). To the downside, immediate support might be located at 0.9778/69 (20 & 50-DMA) and below that 0.9724 (100-DMA).