USD CHF remains well bid
10/6/2016 11:39:09 AM
The USD/CHF pair is seen admitting the recovery above the mid-point of 0.97 handle, in another effort to regain 200-DMA set at 0.9759, in wake of broad USD strength.
Currently, the USD/CHF pair trades 0.14% higher at fresh session highs of 0.9756, on its way to retest daily lows hit at 0.9759 in the Asian opening trades. The USD/CHF pair reverses a part of yesterday’s steep weakening to 20-DMA and stays well bid, largely tracking a broadly higher dollar.
The USD index increases 0.10% to 96.23 levels, making headways towards two-month highs got at 96.39 earlier this week.
To the upside, the next persistence is sited at 0.9820/29 and above which it could extend gains to 0.9850 and 0.9889 next. To the downside, immediate support might be sited at 0.9735 and below that 0.9700 and from there to 0.9643/35.