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USD/CHF recovers to 0.9690

FXStreet (Edinburgh) - The greenback is reverting its initial losses vs. the Swiss franc, with USD/CHF now hovering over levels sub-0.9700.

USD/CHF attention to FOMC

The pair is retreating for the second consecutive session so far, trading in levels below the 0.9700 handle following a continuation of the offered tone around the greenback and a firmer tone in the franc after the SNB statement.

The franc gathered further traction in spite of the steady stance by the SNB at today’s meeting, where it kept its rates unchanged and reiterated its readiness to act in the FX markets if needed.

USD/CHF relevant levels

At the moment the pair is losing 0.25% at 0.9687 facing the next support at 0.9666 (low Sep.17) followed by 0.9607 (low Sep.2) and then 0.9569 (low Sep.1). On the other hand, a breakout of 0.9722 (high Sep.17) would expose 0.9762 (high Sep.16) and finally 0.9796 (high Sep.11).

GBP/USD threatens to drop below 50-DMA and 100-DMA

The offered tone on the GBP is gathering pace in the early US session, threatening to push the GBP/USD pair well below its 50-DMA and 100-DMA located at 1.5519 levels.
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