USD/CHF better bid, re-attempts 200-DMA

The USD/CHF pair is seen taking on the recovery above the mid-point of 0.97 handle, in another attempt to regain 200-DMA located at 0.9759, in wake of broad USD strength.

USD/CHF tracks USD index higher

Currently, the USD/CHF pair trades 0.14% higher at fresh session highs of 0.9756, on its way to retest daily lows struck at 0.9759 in the Asian opening trades. The USD/CHF pair reverses a part of yesterday’s steep decline to 20-DMA and remains well bid, largely tracking a broadly higher greenback.

The USD index rises 0.10% to 96.23 levels, making headways towards two-month highs reached at 96.39 earlier this week.

Moreover, the major benefits from a better risk tone prevalent across the markets, as reflected by the USD/JPY pair.

Meanwhile, next in focus for the major remains the Swiss CPI data due later in the session ahead.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9820/29 (Aug 20 high/ 5-week high) and above which it could extend gains to 0.9850 (psychological levels) and 0.9889 (Sept 1 high) next. To the downside, immediate support might be located at 0.9735 (20-DMA) and below that 0.9700 (round figure) and from there to 0.9643/35 (Sept 30 & 29 low).