USD/CHF pauses 4-day rally, comatose around 0.9670

The USD/CHF pair edged lower for the first time in five days in the Asian session, and now trades around a flat-line in early Europe, lock-stepping in with the US dollar index.

USD/CHF testing lows

Currently, the USD/CHF pair trades -0.06% lower at 0.9663, flirting with session lows struck at 0.9663 earlier on the day. USD/CHF remains flat-lined, although is seen breaking lower over the last hour, as markets resort to adjusting their positions ahead of the key risk events for this week.

Moreover, weaker existing home sales data also continues to weigh on the USD somewhat, sending the USD/CHF pair lower from six-day highs. Attention now remains on the Jackson Hole Symposium and Yellen’s speech on Friday for fresh moves.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9703 (20-DMA) and above which it could extend gains to 0.9752/63 (100 & 50-DMA). To the downside, immediate support might be located at 0.9628 (daily S1) and below that 0.9585 (Aug 18 low).