USD/CHF upside faltered ahead of 0.9700

The greenback keeps the constructive note on Wednesday, pushing USD/CHF to the vicinity of the 0.9700 handle albeit losing some momentum afterwards.

USD/CHF supported near 0.9620

The pair is posting gains for the first time after being rejected from Wednesday’s fresh multi-week highs near 0.9960, bolstered by a renewed buying interest surrounding the US dollar.

Later in the NA session, US ADP report is expected to come in at 170K for the month of July ahead of ISM Non-manufacturing. In Switzerland, data published on Tuesday showed Retail Sales have contracted 3.9% on a year to June and the SVME PMI dropped to 50.1 during July.

USD/CHF key levels

The pair is now gaining 0.43% at 0.9684 facing the next resistance at 0.9731 (100-day sma) ahead of 0.9860 (200-day sma) and then 0.9956 (high Jul.27). On the other hand, a breach of 0.9628 (low Aug.2) would expose 0.9617 (low Jun.23) and finally 0.9440 (2016 low May 3).