Retraces some of the declines from last week
Like the other majors, the dollar is modestly rebounding today after the dollar declines on Trump comments last week.
The low today reached the 0.9901. The 0.99047 area has been home to swing levels going back to the first half of July (see green numbered circles). Holding that area, has helped technically.
The USDCHF moved to a new session high in the current hourly bar, but could not get above the broken 61.8% of the month's trading range at 0.99373. The broken trend trend line comes in at 0.9949 currently (and moving higher). If the price is to go higher those levels need to be broken.
Technically, a little more bullish today on the bears inability to push below a key support target for long. However, (like other pairs), there is overhead resistance that needs to be broken.
