USD/CHF: Risk-off caps recovery below 1.0100

The recovery witnessed in USD/CHF in Asia ran into resistance just below 1.01 barrier, now keeping the spot side-lined around 10-DMA at 1.0084.

USD/CHF tracks DXY recovery

Currently, the USD/CHF pair trades +0.10% higher at 1.0086, trying hard to take on the recovery from 1.0075 region. Renewed broad based US dollar buying lost steam last hour, dragging USD/CHF southwards in the early European trading.

More so, persisting risk-off trades, triggered by reports of North Korean missiles launch into the Japanese waters, offers some support to the CHF, thus restricting further recovery in USD/CHF.

Later today, the US factory orders will take center-stage and provide fresh impetus for the USD traders, as we gradually progress towards the highly-influential event of this week, the US labor market report, due for release this Friday.

USD/CHF Technical Levels    

To the upside, the next resistances are seen near 1.0112/20 (1h 50-SMA/ Feb 15 high) and 1.0142/50 (Feb 22 high/ psychological levels) and from there to 1.0184/76 (Jan 10 high/ Fib R2). To the downside, immediate support might be located at 1.0065 (20-DMA/ classic R2) and below that at 1.050/38 (classic R3/ 50-DMA) and at 1.0000 (parity).