USD/CHF stages solid comeback, nears 0.9900

The US dollar staged a solid comeback against its Swiss counterpart in the Asian session this Friday, taking the USD/CHF pair back towards 0.99 handle.

USD/CHF bounces-off low near 0.9860

Currently, the USD/CHF pair trades +0.17% higher at fresh session highs of 0.9881, looking to reclaim 0.99 barrier.  The USD/CHF pair found fresh bids near 0.9860 region and from there embarked upon a solid recovery mode, mainly driven by increased odds of a Dec Fed rate hike, which restored the recent bullish momentum in the buck.

Amid a lack of relevant economic data from the Swiss docket, the major will track broader market sentiment ahead of the US retail sales and Fed Yellen’s speech due later on Friday.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9921 (multi-month highs) and above which it could extend gains to 0.9955 (Jul 27 high) and 1.0000 (parity) next. To the downside, immediate support might be located at 0.9825 (10-DMA) and below that 0.9800 (key support) and from there to 0.9764/60 (20 & 200-DMA).