USD/CHF tracks DXY lower, ignores mixed Swiss data

The USD/CHF pair brought an end to its steady recovery mode in the European morning, and drifted lower over the last hour in a bid to retest 1.0100 levels.

USD/CHF nears key support around 1.0090 region

Currently, the USD/CHF pair trades +0.11% higher at 1.0102, reversing a spike to daily highs posted at 1.0118. The major trims gains in tandem with the US dollar index, as the greenback ran into resistance at 102 handle against its six major rivals.

The USD dynamics continue to remain the key driver for the pair, as investors ignore latest fundamentals reported out of the Swiss docket.

The Swiss Q4 2016 GDP data disappointed markets, arriving at 0.1% q/q versus 0.5% expectations, while the retail sales for Jan bettered expectations, coming in at -1.4% versus -3.5% previous and -2.0% expected.

All eyes now remains on the US jobless claims for fresh momentum on the prices.

USD/CHF Technical Levels    

To the upside, the next resistances are seen near 1.0118/20/23 (daily high/ Feb 15 high/ Fib R1) and 1.0142/44 (Feb 22 high/ Fib R2) and from there to 1.0176 (classic R2). To the downside, immediate support might be located at 1.0091/86 (daily pivot/ 5 & 100-DMA) and below that at 1.051/43 (20 & 50-DMA) and at 1.0000 (parity).