USD/CHF testing lows near 0.9640, US data eyed

After witnessing a volatile session a day before, the bulls take a breather this Friday, allowing a minor correction in the USD/CHF pair.

USD/CHF re-attempts 5-DMA at 0.9628

Currently, the USD/CHF pair trades -0.09% lower at 0.9641, having posted day’s high at 0.9659 and day’s low at 0.9636. The major oscillated in a 20-pips slim range since the mid-Asian session and is now seen gathering pace for next leg lower, largely tracking the weakness in the US dollar against most of its majors. The USD index trades -0.11% at 94.69 levels.

Moreover, markets look to lock-in gains after the SNB-led sharp rally, as we head towards next week’s EU referendum. Moving on, markets now await the US datasets for fresh take on the greenback.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9700 (round number/ daily S1) and above which it could extend gains to 0.9750/51 (50 & 20-DMA). To the downside, immediate support might be located at 0.9600 (round figure) and below that 0.9577/72 (Jun 8 & 16 low).