USD/CHF finds support at 50-day SMA

USD/CHF has continued to move away from the 0.9840 area, where it peaked on Tuesday, having fallen nearly a full cent over the last sessions as greenback weakness prevails.

USD/CHF fell sharply and bottomed out at the 0.9750 area, where the 10- & 50-day SMA intersection offered support. The pair has recovered a few pips but the bounce lacked momentum, leaving USD/CHF at 0.9760, recording a 0.5% loss on the day.

USD/CHF levels to consider

In terms of technical levels, next supports are seen at 0.9750 (50-day SMA/Aug 10 low), 0.9733 (100-day SMA) and 0.9720 (Aug 4 low). On the other hand, resistances could be found at 0.9817 (Aug 10 high), 0.9843 (Aug 9 high) and 0.9855 (200-day SMA).