USD/CHF attempts gains above 0.9700

The USD/CHF pair extends its recovery from near two-month lows and now re-attempts 0.73 handle, despite a slightly downbeat sentiment persisting in the markets.

USD/CHF trades below 50-DMA at 0.9738

Currently, the USD/CHF pair trades +0.18% higher at fresh session highs of 0.9706, heading for a test of Thursday’s high of 0.9752.  USD/CHF is seen extending the rebound from a drop to 0.9650 levels and regain 0.97 handle, as the safe-haven CHF fails to benefit from subdued trading activity on the Asian equities.

The spot tracks the broad recovery in the greenback against its six major currencies, and tries to recover a part of the Fed decision backed losses. The major will continue to get influenced by the USD moves amid a lack of fresh fundamental triggers in the day ahead.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9744/46 (5 & 100-DMA) and above which it could extend gains to 0.9782 (200-DMA). To the downside, immediate support might be located at 0.9644 (daily S1) and below that 0.9628 (Aug 26 low).