USD/CHF pares gains, reverts to 200-DMA

The USD/CHF pair paused its four-day winning streak and hovers around the 200-DMA located at 0.9857, having failed to sustain gains above the last.

USD/CHF sold-off ahead of 0.9870

Currently, the USD/CHF pair trades modestly flat at 0.9860, retreating from session highs printed at 0.9871 earlier on the day. The major treads water above the mid-point of 0.98 handle, awaiting fresh impetus for fresh direction.

However, the major remains supported on the back a stronger US dollar across the board, now consolidating the strong gains seen yesterday Focus now remains on the Swiss ZEW economic expectations data due later in the European session amid a data-quiet trading session this Wednesday.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9894 (previous highs) and above which it could extend gains to 0.9950 (psychological levels). To the downside, immediate support might be located at 0.9806 (20-DMA) and below that 0.9764 (50-DMA).