USD/CHF trims losses after US data

By FXStreet FXStreet (Mumbai) – The bid tone on the USD improved following an upbeat US GDP and weekly jobless claims, taking the USD/CHF pair back to 0.9923 levels.

USD supported by treasury yields

The treasury yields in the US have ticked higher following the GDP and jobless claims figure, thereby helping the USD regain lost ground against the CHF. The policy sensitive 2-yr treasury yield is up almost two basis points around 0.728%. The 10-yr yield also inched higher by almost four basis points.

However, the CHF still enjoys moderate gains over the USD as the overbought nature of the USD/CHF pair keeps the USD under pressure.

USD/CHF Technical Levels

At 0.9923, the immediate support is seen at 0.9903 (Aug 11 high), under which the losses could be extended to 0.9844 (Sep 25 high). On the higher side, the pair could rise to 1.00 handle in case the spot manages to take out offers at 0.9957 (previous day’s high).
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Source:: FX Street