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USD/CHF sits comfortably above 1.00 handle

FXStreet (Mumbai) - The USD/CHF is trading around 1.004 levels in the European session after having managed to sustain above 1.00 handle in the previous session.

Hovers around hourly 50-MA

The pair is swinging back and forth around its hourly 50-MA located at 1.0038 levels. The moving average has served as a strong support since Nov 3rd, although a first hourly closing was seen below the same in early Europe today.

The European stocks have turned risk averse, but are not offering any support to the regional safe haven CHF. The bid tone on the USD may remain strong during the day ahead as the markets price-in a December Fed lift-off.

USD/CHF Technical Levels

The immediate resistance is located at 1.0062 (previous day’s high), followed by a hurdle at 1.0076 (Friday’s high). A break above would open doors for 1.0127 (Mar 12 high). On the other side, support is seen at 1.00 and 0.9957 (Oct 28 high).

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