USD/CHF clings to 0.9800 on weaker dollar

After reaching highs near 0.9820 in early trade, USD/CHF has now returned to the 0.9800 neighbourhood amidst generalized offered bias around USD.

USD/CHF attention to FOMC, BoJ

The pair seems to struggle to advance further north of the 0.9820 area in recent weeks, as a stronger catalyst for the greenback still remains elusive for USD-bulls.

Following the steady stance by the SNB at its meeting last week, the pair now faces increasing speculations on a potential rate hike by the Federal Reserve at its meeting on Wednesday, while scepticism dominates the sentiment around the BoJ and its ability to loosen its monetary policy further.

USD/CHF key levels

The pair is now down 0.08% at 0.9795 facing the next support at 0.9761 (20-day sma) followed by 0.9646 (low Sep.8) and finally 0.9532 (low Aug.18). On the other hand, a break above 0.9819 (high Sep.16) would aim for 0.9889 (high Sep.1) and then 0.9905 (high Jul.13).