USD/CHF challenges 0.9600, session lows

The bearish sentiment remains intact around the greenback during the first half of the week, with USD/CHF now putting the 0.9600 key support to the test.

USD/CHF lower on USD selling

The pair has come under renewed downside pressure following the offered tone in the US Dollar during the European morning, all in response to a mild bias towards the risk-on trade as the EU-UK Referendum is getting closer.

On the data front, Switzerland’s ZEW Expectations has come in at 19.4 for the current month, up from May’s 17.5. In the US docket, Existing Home Sales will precede Chair Yellen’s testimony before Congress.

USD/CHF key levels

The pair is now retreating 0.30% at 0.9594 facing the next support at 0.9568 (low Jun.16) ahead of 0.9495 (low Apr.12) and then 0.9440 (2016 low May 3). On the other hand, a surpass of 0.9691 (high Jun.16) would expose 0.9709 (20-day sma) and finally 0.9758 (100-day sma).