USD/CHF little changed near 0.9760 post Swiss data

FXStreet (Mumbai) - USD/CHF keeps losses during the European morning, although remains close to fresh two week highs, as the pair moves in tandem with the greenback shrugging off steady Swiss employment numbers.

USD/CHF firms above 0.9750

Currently, the USD/CHF trades lower by -0.14% at 0.9762, oscillating in a 20-pips slim range. The pair edged lower this session largely on the back of weakness seen in the US dollar across the board on profit-taking after the recent rally. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades lower by -0.12% at 99.13.

While the pair also remains unaffected by Swiss employment data which showed Switzerland’s jobless rate remained at 3.2% month-on-month, now standing at the same pace for a third successive month.

Karen Jones, Head of Technical Analysis at Commerzbank, notes, “USD/CHF is probing the 0.9760 31st March high and this is now expected to yild. It continues to rebound off 0.9484, and while it holds, resistance around the early December high at 0.9818 and more significant resistance at 1.0000 and also at the March high at 1.0128 should be reached.”

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9791 levels and above which it could extend gains to 0.9818 levels. To the downside, immediate support might be located at 0.9700 levels and below that at 0.9657 levels.