USD/CHF supported at 1.0050 post-Swiss data

The USD/CHF pair is seen reversing from session lows and regains poise, following the release of the Swiss data, which showed widening trade surplus.

USD/CHF awaits Fedspeaks

Currently, the USD/CHF pair advances +0.31% to 1.0060, heading for a test of highs previously posted at 1.0062. The major is closely tracking the USD price-action and reverted to daily highs, after the greenback staged a pullback to 101.24, daily tops.

However, the spot is seen struggling to extend the upside as the CHF bulls found support from upbeat Swiss trade data, which showed trade surplus rising to CHF 4.73bln vs CHF 2.69bln previous.

Nothing of note for the major in the European session, and hence, all eyes remain on the Fedspeaks and US PMI reports due later in the NA session.

USD/CHF Technical Levels    

To the upside, the next resistances are seen near 1.0071 (Feb 16 high) and 1.0100 (zero figure) and from there to 1.0120 (Feb 15 high). To the downside, immediate support might be located at 1.0027 (daily low) and below that at 1.0000 (parity) and at 0.9987 (20-DMA).