USD/CHF off-lows, back around parity

The USD/CHF pair is looking to take on the recovery beyond parity, but in vain, as sellers keep lurking amid ongoing corrective slide in the US dollar against its major peers.

USD/CHF regains parity, next what?

Currently, the USD/CHF pair trades -0.20% lower at 0.9998, recovering from session lows struck at 0.9984 post-China open. The major stalled its retreat from eight-month highs near 0.9980, and from there attempted another above 1.0000 levels amid broad based US dollar weakness, as the buck corrects Trump-win rally.

Next of note for the major remains the Swiss ZEW economic expectations data due later in the European session, ahead of the US PPI and industrial figures lined up for release in the American session. In the meantime, the major will continue to get influenced by the USD dynamics.

USD/CHF Technical Levels

To the upside, the next resistance is located at 1.0025 (8-month high) and above which it could extend gains to 1.0057 (daily R1) and 1.0100 (zero figure) next. To the downside, immediate support might be located at 0.9956 (5-DMA) and below that 0.9876 (10-DMA) and from there to 0.9857 (20-DMA).

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