USD/CHF fades a tepid recovery bounce, neutral at 0.9750

Having posted a daily low at 0.9734, the USD/CHF pair bounced-off session through level and jumped above 50-day SMA to 0.9765 level before retracing back to currently trade around 0.9750 level.

The pair benefitted from a broad based recovery momentum around the greenback following its sharp slide on Wednesday, when the pair extended its reversal from weekly high level for second consecutive session. 

Next on tap would be the release of weekly jobless claims and import price index from the US during NA trading session.

How strong has the move been?

USD/CHF spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. RSI is in neutral territory at 58.26, up from its last hourly close at 44.11, while ADX is ranging above 30 at 18.74, down from 23.31 at the last hourly close. 

Looking to a daily chart, we see that RSI is neutral at 46.74. The 200 SMA is currently at 0.9784, up from 0.9744 at the last period close, and climbing on the hourly USD/CHF chart. Moving with a range-bound trend, the exponential average closing price is 0.9784.

Price levels to be considered

We can see next resistance ahead at 0.9768 (Daily High), 0.9773 (Daily Classic PP), 0.9784 (Daily 20 SMA) and 0.9794 (Hourly 100 SMA). Support below can be found at 0.9746 (Yesterday's Low), 0.9744 (Hourly 200 SMA) and 0.9741 (Weekly Low).