USD/CHF capped by 5-DMA ahead of US dataflow

The USD/CHF pair extends the losing streak into a second day today, although the bulls found some respite just ahead of 10-DMA located at 1.0238.

USD/CHF: Attention turns to the US dataflow

The USD/CHF pair keeps the offered tone intact amid broad based US dollar softness and mixed performance on the European equities amid light trading ahead of the Christmas/ New Year holiday season.

Moreover, the Swiss franc continues to cheer upbeat assessment of the Swiss economy, as reflected in the SNB quarterly bulletin published yesterday. The bulletin stated that the Swiss economy is likely to recover further in the coming quarters, as positive incoming economic data are pointing towards a brighter picture of the economic growth in the near term.

The immediate focus remains on a spate of US economic data due to be reported in the upcoming US session.

USD/CHF Technical Levels

To the upside, the next resistance is located at 1.0301 (Dec 21 high) and above which it could extend gains to 1.0331 (Nov 2015 high) and 1.0346 (multi-year high) next. To the downside, immediate support might be located at 1.0237 (10-DMA) and below that 1.0200 (round figure) and from there to 1.0184 (20-DMA).