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USD/CHF fails to hold above 0.9800

FXStreet (Córdoba) - USD/CHF failed to sustain gains above 0.9800 and pulled back below the psychological level, witnessing a volatile phase following the release of the latest string of US data.

The dollar received a boost following an upward GDP revision for the second quarter (3.9% versus 3.7% exp), but lost momentum soon after and retreated toward the 0.9760 zone.

Separated data showed, US Markit services and composite PMIs came in line with expectations in September at 55.6 and 55.3 respectively, but had little impact on the greenback.

USD/CHF levels to watch

At time of writing, USD/CHF is trading at 0.9780, 0.39% above its opening price. In terms of technical levels, next supports are seen at 0.9750 (Sep 25 low), 0.9715 (200-hour SMA) and 0.9667 (Sep 24 low). On the other hand, resistances could be found at 0.9843 (Sep 25 high) and 0.9889 (Aug 12 high).

United States Markit Services PMI meets expectations (55.6) in September

United States Markit Services PMI meets expectations (55.6) in September
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