USD/CHF Edges Up On Risk-off Trading, Aiming For 0.8575

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The edges up on risk aversion but remains trapped within previous ranges.

Trading is light with US markets closed on bank holidays.

USD/CHF is on a corrective recovery, aiming for 0.8575 and 0.8665.

The US Dollar is going through a moderate recovery against the Swiss Franc on Monday. The  is trimming some losses, favored by the sourer  although it remains trapped within previous ranges.The USD Index remains capped below the 102.75 resistance area, which is coincident with the USD/CHF’s 0.8575 level. The weaker market sentiment is providing some support to the safe-haven USD yet, trading volume is light with US markets closed on bank holidays.The economic docket is thin today. In the US, the New York  Empire State Manufacturing Index might provide some guidance for traders, although the highlights will be Wednesday’s Retail Sales and Friday’s Michigan Consumer Sentiment Index.The pair is now in a corrective recovery after having depreciated nearly 10% in the last quarter of 2023. Immediate resistance is the mentioned 0.8575 and above here, the 38.2% Fibonacci retracement of the mentioned decline, at 0.8665.Supports are 0.8460 and December’s low at 0.8325. 
 Technical levels to watchUSD/CHF

OVERVIEW Today last price 0.8544 Today Daily Change 0.0022 Today Daily Change % 0.26 Today daily open 0.8522 TRENDS Daily SMA20 0.8519 Daily SMA50 0.8707 Daily SMA100 0.8854 Daily SMA200 0.8872 LEVELS Previous Daily High 0.8551 Previous Daily Low 0.8489 Previous Weekly High 0.8566 Previous Weekly Low 0.846 Previous Monthly High 0.8821 Previous Monthly Low 0.8333 Daily Fibonacci 38.2% 0.8512 Daily Fibonacci 61.8% 0.8527 Daily Pivot Point S1 0.849 Daily Pivot Point S2 0.8458 Daily Pivot Point S3 0.8428 Daily Pivot Point R1 0.8552 Daily Pivot Point R2 0.8583 Daily Pivot Point R3 0.8615

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