USD/CHF regains 5-DMA post-Swiss data

The USD/CHF pair retreats slightly from session troughs, as the Swiss franc remains unperturbed by upbeat Swiss UBS consumption data.

USD/CHF: 1.0300 back on sight?

The USD/CHF pair catches fresh bid last minutes as risk-sentiment appears to have improved somewhat amid a minor-recovery in the US treasury yields and expectations of a positive start to the European markets, which weighs on the safe-haven Swiss franc.

While, the major recovers ground, despite upbeat Swiss macro, this failed to boost the sentiment around the CHF. The UBS Consumption Indicator arrived at 1.43 versus a previous reading 1.39.

The spot looks to regain bids as markets continue to cheer better-than expected US CB consumer confidence and housing data, with the consumer confidence numbers hitting the highest levels since August 2001. Markets now look forward to the US pending home sales data for fresh incentives on the USD price-action.

USD/CHF Technical Levels

To the upside, the next resistance is located at 1.0301 (Dec 21 high) and above which it could extend gains to 1.0331 (Nov 2015 high) and 1.0346 (multi-year high) next. To the downside, immediate support might be located at 1.0250 (psychological levels) and below that 1.0222 (20-DMA) and from there to 1.0200 (round figure).