FXStreet (Mumbai) - USD/CHF keeps losses and erased a part of yesterday’s losses in the European trading hours, as the CHF bulls jumped back into the bids, completely ignoring the persisting risk sentiment across the financial markets.
USD/CHF capped below 0.9750
Currently, the USD/CHF pair trades -0.12% lower at 0.9728, recovering from fresh session low of 0.9715 reached in mid-Asia. The Swiss franc continues to outperform its American rival on the back of a short-covering rally after the recent weakness, in the run up to the Fed showdown.
Moreover, USD/CHF remains weak on the back of a muted US dollar against its major competitors, with the USD index now flat at 95.77.
In the day, the pair may receive some fresh impetus from the US CPI figures, while any impact may be limited ahead of Thursday’s Fed decision.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9766 (Sept 7 High) levels and above which it could extend gains to 0.9800 (Sept 10 High) levels. To the downside, immediate support might be located at 0.9640 (Aug 19 Low) levels and below that at 0.9593 (July 29 Low) levels.
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