USD/CHF struggles to rise above 0.9900 as risk-off returns

A sudden turnaround in the risk conditions triggered renewed safe-haven demand for the Swiss franc, knocking-off USD/CHF to fresh two-day lows below 0.99 handle.

USD/CHF falls below 5-DMA at 0.9909

Currently, the USD/CHF pair trades -0.20% lower at 0.9892, having posted fresh session lows at 0.9885 some minutes ago. The major came under fresh selling pressure as it received double from a weaker greenback across the board on one hand, while deteriorating risk sentiment underpinned the safe-haven bids for the CHF and thus, weighed down on USD/CHF.

Nothing of note for the major in the European session and hence, attention shifts towards the US calendar, with the US durable goods and pending home sales data on the cards, besides, a couple of Fedspeaks.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9933/38 (May 25 & 24 High) and above which it could extend gains to 0.9950 (round number). To the downside, immediate support might be located at 0.9850/46 (psychological levels/ 200-DMA) and below that 0.9820 (100-DMA).