USD/CHF drops to fresh session lows near 0.9850

The USD/CHF pair stalled its four-day winning streak and fell in the negative territory this Thursday, as lower European indices futures refuel risk-off moods in the markets.

USD/CHF back below 200-DMA at 0.9857

Currently, the USD/CHF pair trades -0.26% lower at fresh session lows of 0.9846, retreating further from 0.9881 highs. The major drifts lower, as the CHF bulls shrugged-off downbeat Swiss trade balance data and extended higher in sync with strengthening euro ahead of the ECB decision.

Moreover, fresh selling in the greenback across the board, amid deteriorating risk sentiment, also weighs on USD/CHF pair. Looking ahead, main focus now remains on the   ECB policy decision due later this session, ahead of the US economic data on the cards in the American session.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9894 (previous highs) and above which it could extend gains to 0.9950 (psychological levels). To the downside, immediate support might be located at 0.9808 (20-DMA) and below that 0.9763 (50-DMA).