USD/CHF deflates from 1.0085 on solid Swiss data, Trump eyed

The USD/CHF pair is seen lock-stepping in with the US dollar index, now fading a spike to session tops, as markets digest upbeat Swiss economic data.

USD/CHF awaits Trump

Currently, the USD/CHF pair drops -0.28% to 1.0068, heading back towards daily lows posted at 1.0064. The major rebounded sharply from daily lows amid fresh USD buying, although failed to sustain at higher levels and fell back towards daily troughs as the CHF bulls regained control,  and showed a delayed reaction to better-than expected Swiss KOF leading economic indicator for Feb, which arrived at 107.2 vs 102.1 expectations.

Moreover, the Swiss franc derived support from persisting risk-off market profile, as markets turn cautious and prefer to park their funds in the safe-havens like the CHF ahead of the US President Trump’s interview due later at 11GMT.

USD/CHF Technical Levels    

To the upside, the next resistances are seen near 1.0100 (round figure) and 1.0120 (Feb 15 high) and from there to 1.0142 (Feb 22 high). To the downside, immediate support might be located at 1.0049/37 (50 & 20-DMA) and below that at 1.0000 (parity) and at 0.9932 (200-DMA).