USD/CHF turns positive, eyeing to retest 100-DMA

The USD/CHF pair managed to recover from an early dip to 0.9710 and has now moved back into positive territory to hit a fresh session high.

Currently trading around 0.9725-30 band, a broad based greenback recovery coupled with an up-tick in Swiss unemployment rate for the month of August helped the pair to pair to build on to its recovery from Thursday's two-week low near mid-0.9600s.

With a relatively lighter US economic calendar, featuring the release of Wholesale Inventories, traders will focus on FOMC Member Eric Rosengren's speech and reevaluate possibilities of an imminent Fed rate-hike prospects at its September meeting. 

Technical levels to watch

Immediate upside resistance is pegged at 100-day SMA near 0.9750 region, closely followed by 50-day SMA near 0.9760-65 region above which the pair seems all set to aim back towards the very important 200-day SMA strong resistance near 0.9800 handle.

On the flip side, weakness below session low support at 0.9710, and a subsequent drop below 0.9700 handle, might negate possibilities of any further recovery and drag the pair back towards 0.9670 intermediate support en-route weekly lows support near 0.9650 level.