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The USD / CHF fell in the European session and moved to the lower end of the daily range around the 0.9080 area.
After rising to levels above 0.9100, the pair faced some new offers and sailed to the negative zone for the third consecutive session on Thursday. However, a range of supporting factors helped reduce any deeper losses.
The US dollar had witnessed sell-off coverage during the day, the optimistic market situation undermined the Swiss franc as a safe haven, which provided more support to USD/CHF
Concerns about the pace of recovery in the US economy, with the next round of US fiscal stimulus measures reaching a dead end, could prevent the bets on the dollar’s rally on, which in turn limits the bullish trend of the USD/CHF.
It would be wise to wait for the pair to prove a consolidation in the near term or a modest bounce before determining a location to extend the downtrend and focus will be on Thursday’s release of US weekly unemployment claims for some momentum.
