Monday, September 21, 2015

USD/CHF attempts a bounce to 0.9700, risk-off fades

FXStreet (Mumbai) - The US dollar erased most losses and tries to recover lost footing versus the Swiss currency in the European morning, on fading risk-off moods as European stocks turn into the positive territory.

USD/CHF capped below 0.9700

Currently, the USD/CHF pair trades -0.07% lower at 0.9685, recovering from fresh session lows reached at 0.9673 some minutes ago. The offered tone around the USD/CHF pair reduced after the European open brought in a better risk environment, with major European benchmarks, erasing losses and now trading in the green.

Moreover, the US dollar also wiped-out entire losses against its major peers, which also lends a helping hand to the recovery in USD/CHF.

Meanwhile, the European docket remains data-dry on Monday. Hence, markets may shift their focus towards the US session for further momentum on the major.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9732 (Sept 17 High) levels and above which it could extend gains to 0.9763 (Sept 16 High) levels. To the downside, immediate support might be located at 0.9673 (Today’s Low) levels and below that at 0.9600 levels.
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