USD/CHF searching for direction below 0.9900

USD/CHF recovered from European session lows and managed to erase intraday losses as the dollar picked up pace versus most competitors. However, trade remains tepid in the absence of major data releases or news.

USD/CHF was rejected from a peak of 0.9893 and slid to a daily low of 0.9849 before the 10-day SMA offered support. The pair recovered a few pips, and it was last trading at at 0.9865, slightly lower on the day.

USD/CHF technical levels

As for technical levels, next resistances line up at 0.9900/05 (psychological level/Jul 21 high), 0.9920 (Jun 3 high) and 0.9950 (Jun 5 high). On the flip side, supports are seen at 0.9851 (10-day SMA), 0.9813 (20-day SMA) and 0.9780 (50-day SMA).