USD/CHF tracks DXY higher, 5-DMA eyed

The USD/CHF pair ended a five-day decline and staged a minor-recovery on Wednesday, closely tracking broad based USD price-action.

USD/CHF in tight range around 0.9650

Currently, the USD/CHF pair trades +0.15% higher at fresh session highs of 0.9659, attempting recovery towards 5-DMA located at 0.9674. The major turned positive for the first time in six days, now trading in 20-pips slim range, largely underpinned by broad based US dollar recovery. The USD index rises +0.15% to trade around 95.15 levels.

Amid a lack of fresh fundamental drivers in the European session, the major will get influenced by the persisting risk sentiment, while focus remains on the US jobs and services data due on the cards later in the NA session.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9674 (5-DMA) and above which it could extend gains to 0.9700/20 (round number/ 1h 100-SMA). To the downside, immediate support might be located at 0.9628 (Aug 2 low) and below that 0.9600 (round figure).