USD/CHF tumbles below 0.9800, 2-day lows

The greenback is extending its decline during the first half of the week, now sending USD/CHF to post fresh lows in sub-0.9800 levels.

USD/CHF upside capped at 0.9850

The pair is retreating for the second consecutive day amidst growing selling pressure around the greenback, as market participants seem to have already digested last Friday’s Payrolls figures.

The offered tone around USD has accelerated after another failed attempt to surpass the 0.9850 area, triggering the ongoing leg lower and retracing further last week’s strong advance.

Nothing expected in the US docket today, while Swiss unemployment rate figures have matched previous estimates on Tuesday.

USD/CHF key levels

The pair is now losing 0.13% at 0.9797 facing the next support at 0.9767 (55-day sma) followed by 0.9736 (100-day sma) and finally 0.9628 (low Aug.2). On the flip side, a break above 0.9851 (high Aug.9) would aim for 0.9858 (200-day sma) and then 0.9956 (high Jul.27).