USD/CHF flat-lined around 200-DMA, awaits US data

The USD/CHF pair extends its side-trend in the European session this Tuesday,

USD/CHF unable to resist above 0.9800

Currently, the USD/CHF pair trades modestly flat at 0.9800, with the upside capped by key resistance located near 0.9810 region. USD/CHF recovers from daily lows and reverts to the familiar range around 0.98 handle, despite broad based US dollar weakness. The USD index now drops -0.11% to 95.64 levels, extending lower from 95.86 session tops.

Moreover, the major appears to have ignored upbeat Swiss datasets, with the CPI figures coming in line with estimates, while the second quarter Swiss GDP came in at 0.6% q/q vs 0.4% expected.

With the Swiss data out of the way, markets now await the US ISM services PMI and labour market conditions data for fresh momentum on the pair.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9825 (post-NFP high) and above which it could extend gains to 0.9850 (psychological levels). To the downside, immediate support might be located at 0.9770/66 (50 & 100-DMA) and below that 0.9744 (daily S2).