USD/CHF better bid, but remains below 0.9850

The USD/CHF pair extends its upbeat momentum ahead of the European open, as the greenback catches a fresh bid tone against its major peers.

USD/CHF bounces-off 0.9820

Currently, the USD/CHF pair trades +0.11% higher at 0.9833, hovering within a striking distance of session highs posted at 0.9836 last hour. The major extends higher this Tuesday, attempting to break the side-way momentum witnessed over the      few trading sessions.

The renewed buying interest seen around USD/CHF can be attributed to a better risk tone prevalent in the markets amid stabilizing oil prices. Nothing of note for the major in the European session, and hence, focus now remains on the US housing sector data releases for further momentum.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9857 (200-DMA) and above which it could extend gains to 0.9894 (previous highs). To the downside, immediate support might be located at 0.9801 (20-DMA) and below that 0.9764 (50-DMA).