USD/CHF revisits daily highs on poor Swiss data

The bulls were rescued by worse-than expected Swiss ZEW numbers, sending USD/CHF back towards daily tops near 0.9640 region. 

USD/CHF bounces-off 0.9615 zone

Currently, the USD/CHF pair trades +0.25% higher at 0.9635, flirting with daily highs reached previously at 0.9641. USD/CHF’s recovery from ahead of 0.96 handle regained momentum after the Swiss currency was badly hit by a sharp deterioration in Switzerland’s economic sentiment, with the figures coming in at -2.8 versus 5.9 prior.

Meanwhile, a fresh buying-wave gripped the buck across the board, driving the USD index further into the positive territory above 95 handle, up +0.25% on the day. 94.87. The bulls now await the FOMC minutes release due later in the American afternoon, which is expected to trigger huge volatility.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9649 (daily pivot) and above which it could extend gains to 0.9694 (5-DMA). To the downside, immediate support might be located at 0.9600 (round figure) and below that 0.9585 (2-month low).