USD/CHF sees aggressive selling, around 1.0100

The US dollar came under aggressive selling pressure in early Europe, knocking-off USD/CHF below 1.01 handle, before recovering some ground to now trade around the last.

USD/CHF meets supply once again near 1.0120

Currently, the USD/CHF pair edges -0.13% lower at 1.0100, trading within a striking distance of daily lows struck at 1.0093 in the last hour. The major breaks the Asian consolidation box to the downside, as the bears regain control amid extension of the corrective mode in the US dollar against its major peers. Meanwhile, the US dollar index drops -0.10% to test lows struck just below 101.00.

The major remains offered also on the back of prevalent cautious tone in the markets, as traders refrain from creating fresh positions in the greenback ahead of the FOMC minutes, which will be released in the American afternoon.

USD/CHF Technical Levels

To the upside, the next resistance is located at 1.0136 (multi-month high) and above which it could extend gains to 1.0150 (psychological levels) and 1.0200 (zero figure) next. To the downside, immediate support might be located at 1.0050 (10-DMA) and below that 1.0000 (parity) and from there to 0.9914 (20-DMA).

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