The pair USD/CHF is still struggling to determine a direction of the short term and remains in its recent range day. At this time, the pair is trading at 0.9940, an increase of 0.08% on the day.
Since Tuesday, the pair has not moved between 0.9915 and 0.9970. The main reason why the pair struggled to find direction during the first half of the week seems to be a combination of a weak dollar and increased risk appetite.
While risk appetite has been limited to the floor by the safe haven CHF less desirable, the failed attempts of the index of the US dollar add to its gains above 99 cover the moment bullish. In fact, the Dollar index fell to 99.20 during the press conference of the ECB president, Draghi, in the first american session, but came back under pressure in the midst of the fall of the yields of the Treasury of the united States.
As the session continued, the DXY gave way to level 99 and is now at 99.01, still up 0.16% on the day. The next catalyst potential for the pair could be the data of the GDP of the united States tomorrow. Until then, it is likely that the pair will continue to waver in their channel of trade journal.
The pair may find its first resistance at 0.9980 (DMA 200) prior to 1.0000 (psychological level) and 1.0030 (DMA 100).
To the downside, supports are located at 0.9915 (minimum Tuesday), 0.9875 (a minimum of 26 of march) and 0.9810 (minimum of 27 of march).