USD/CHF recovers lost ground ahead of US data

The USD/CHF pair managed to recover all of its early losses and is now trading with mild positive bias for the sixth straight session.

Currently trading near fresh session peak around 0.9980 region, the pair caught fresh bids at lower levels amid increasing odds of an eventual Fed rate-hike, which continues to underpin the greenback following Donald Trump's victory in US presidential elections. 

Meanwhile, a mildly positive sentiment surrounding European equity market is indicative of improving investor risk appetite and is further denting the Swiss Franc's safe-haven appeal, eventually supporting the pair's recovery from session through. 

Investors now look forward to the release of monthly retail sales, Empire State Manufacturing Index and import price data from the US for fresh impetus, which could assist the pair to make a fresh attempt towards retesting parity mark. 

Technical levels to watch

On the upside, 1.00 psychological mark remains immediate strong hurdle, which if conquered opens room for continuation of the pair's near-term upward trajectory towards its next major resistance near 1.0085-90 area (March highs). On the downside, 0.9940-30 region now becomes immediate support to defend below which the pair is likely to extend its corrective slide immediately towards 0.9900 handle before eventually dropping to 0.9865-60 support area.