USD/CHF: Recovery stalls near 0.9950 amid mixed markets

The recovery attempt in the USD/CHF pair lost steam just shy of 0.9950 levels, as the spot closely follows the moves in the greenback versus its main competitors.

USD/CHF re-attempts parity?

Currently, the USD/CHF pair trades +0.07% higher at 0.9942, hovering within a striking distance of daily tops reached at 0.9948 in early Asia. The USD/CHF pair reverted to the familiar trading range seen during yesterday’s Asian session, after having stalled a solid recovery from just ahead of 0.99 handle.

The major is seen piggy-backing the US dollar, particularly after the greenback rebounded sharply against its major rivals following upbeat US goods trade balance and flash services PMI data, which pushed the treasury yields higher. Meanwhile, the USD index now trades +0.07% higher around 98.65 levels.

Next of note for the major remains the US economic releases, including the US durable goods data, due later in the NA session amid a lack of fundamental triggers from the Swiss docket.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9999/1.0000 (multi-month highs/ parity) and above which it could extend gains to 1.0024 (daily R3) and 1.0050 (psychological levels) next. To the downside, immediate support might be located at 0.9922 (10-DMA) and below that 0.9881 (20-DMA) and from there to 0.9800 (50-DMA).