USD/CHF bounces-off 5-DMA, clinches highs near 1.0120

The USD/CHF pair extends a minor-rebound into Europe, having found solid support just ahead of 5-DMA located at 1.0105.

USD/CHF eyes 1.0150

Currently, the USD/CHF pair trades modestly flat near session highs of 1.0122, with the bulls awaiting fresh impetus from the sentiment on the European markets. The broader market sentiment appears mixed amid subdued US dollar versus its major peers.

Earlier in Asia, the major dipped sharply to test 1.01 handle after the safe-haven Swiss franc regained footing amid reports of the US deploying THAAD missile in S. Korea, which refuelled ongoing geo-political tensions surrounding North Korea.

Focus now remains on the Swiss forex reserves data and US trade balance data for fresh momentum on the pair, while risk trends will continue to drive the markets.

USD/CHF Technical Levels    

To the upside, the next resistances are seen near 1.0142/50 (Feb 22 high/ psychological levels and 1.0184/76 (Jan 10 high/ Fib R2) and from there to 1.0200 (round figure). To the downside, immediate support might be located at 1.0107/05 (daily low/ 5-DMA) and below that at 1.0071/67 (20-DMA/ Fib S2) and at 1.0050/38 (psychological levels/ 50-DMA).