USD/CHF drops to lows near 0.9580

The greenback remains on the defensive today, with USD/CHF breaking below the 0.9600 critical support.

USD/CHF eyes on Yellen

The pair has reverted yesterday’s advance and is now gathering further downside pace following a persistent selling bias around the greenback, which continues to test fresh lows in the mid-93.00s when tracked by the US Dollar Index.

On the data space, Swiss trade surplus widened to almost CHF3.8 billion during May, beating expectations. In the US calendar, Yellen’s testimony before the Senate will grab all the attention later in the NA session.

USD/CHF key levels

The pair is now retreating 0.29% at 0.9587 facing the next support at 0.9568 (low Jun.16) ahead of 0.9495 (low Apr.12) and then 0.9440 (2016 low May 3). On the other hand, a surpass of 0.9691 (high Jun.16) would expose 0.9715 (55-day sma) and finally 0.9761 (100-day sma).