USD/CHF recovers lost ground, retakes 1.0100 handle and beyond

After an initial dip below 1.0100 handle, the USD/CHF pair regained its lost ground and is now fast approaching a multi-month high touched on Tuesday.

Currently trading around 1.0125 level, testing session peaks, the pair caught fresh bids at lower level and has gained further traction in the last hour amid renewed greenback buying interest. In fact, the overall US Dollar Index reversed early losses and has now turned constructive back above 101.00 handle. 

However, further strong up-move might be restricted as investors look forward to US macro data - durable goods orders, weekly jobless claims and new home sales, later during NA session, ahead of the key FOMC meeting minutes, which might act as the next big trigger for the pair's near-term trajectory. 

Technical levels to watch

A sustained move beyond Tuesday's multi-month high resistance near 1.0134 seems to assist the pair further towards testing yearly highs resistance near 1.0250 region in the near-term, with 1.0200 round figure mark acting as intermediate support. On the downside, 1.0100 handle now become immediate support, which if broken could drag the pair back towards 1.0070 support area. Sustained weakness below 1.0070 support might now extend the corrective slide towards 1.0020-15 horizontal support.