FXStreet (Mumbai) - USD/CHF extends gains for the second straight session, testing 0.96 barrier yet another time, as the US dollar continues its rise across the board, mainly driven by technical buying amid a data-light day ahead.
USD/CHF supported above 0.9550
Currently, the USD/CHF trades higher by 0.27% at 0.9588, retreating from a spike to fresh session highs posted at 0.9592 some minutes ago. The pair edged higher largely in continuation of bullish momentum driven by technicals after the USD/CHF pair rebounded from triple bottom formation on the daily chart in the previous session.
Moreover, the US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped to fresh session highs at 98.48 and now trades at 98.39, up 0.24% on the day.
Meanwhile, the US dollar may remain the major driver for the pair today in absence of significant economic releases across the globe.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9600 levels and above which it could extend gains to 0.9617 levels. To the downside, immediate support might be located at 0.9550 levels and below that at 0.9500 levels, stated RVD Markets experts (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
