The USDCHF pair printed gains on Wednesday in the initial European session and bulls remain optimistic near to break the psychological 0.9200 price mark.
If price starts moving lower, it could retest the 0.9140 horizontal support level.
Further, it could drop toward the low of August 30 at 0.9101, USD/CHF bears would seek the next target at the 0.9080 horizontal support level.
The US Treasury yields traded better at 1.31% with more than 1% gains. The US Dollar Index moves is correlated with the 10-year yields movement benchmark and trades below 93.00, which limited the gains for USDCHF.
US Chicago Business barometer fell to 66.8 in August from 73.4 in July, below market forecasts of 68.
Conversely, the Swiss Franc picked the momentum on broad-based USD weakness, despite the downbeat economic data. The KOF Economic Barometer in Switzerland eased to 113.5 in August and much below the market expectations of 125.
In the meantime, according to Swiss National Bank Vice President, Fritz Zurbruegg Switzerland’s housing market is in danger of a correction as prices continue to rise and are far from affordability.
It is worth noting that S&P 500 Futures were trading at 4,522, down 0.11%.
Looking forward, investors are awaiting for the US ADP Employment Change, ISM Manufacturing Purchasing Managers Index (PMI)Â data to determine the market sentiment.
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