USD/CHF flirting with lows, below 1.0050 ahead of US economic releases

The USD/CHF pair failed to build on previous session's up-move and remained under some selling pressure amid lackluster trading action on Friday.

Today's price-action lacked any fundamental driver but could be attributed to persistent geopolitical tensions, which tends to support the Swiss Franc's safe-haven appeal. 

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Adding to this, unusual comments about the US Dollar strength's strength by the US President Donald Trump has been a key overhang on the greenback. Hence, a mildly softer tone surrounding the US Dollar also seems to have collaborated to the pair's failure to extend Thursday's recovery move.

On the economic data front, the release of headline CPI and monthly retails sales would catch the entire headline and might shatter a holiday-induced calm in the FX markets.

Technical levels to watch

Immediate support is pegged near 1.0030-28 area, below which the pair is likely to aim towards retesting the parity mark before eventually dropping to test 0.9970-65 horizontal support.

On the upside, momentum above 1.0060 level is likely to confront resistance at 100-day SMA near 1.0080 region, which if cleared decisively could lift the pair beyond the 1.0100 handle towards testing its next resistance near 1.0130-35 zone.