The USD/CHF pair bounces back with strength at a rate of 0.88032, as the US Dollar regains momentum ahead of the Jackson Hole event.

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• USD/CHF recovers strongly as US Dollar rebounds ahead of Jackson Hole.

The pair currently trades last at 0.88032.

The previous day high was 0.8817 while the previous day low was 0.8774. The daily 38.2% Fib levels comes at 0.8791, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8801, expected to provide support.

The USD/CHF pair discovers stellar buying interest near a weekly low around 0.8760 and climbs above the round-level resistance of 0.8800 in the European session. The Swiss Franc asset rallies as the US Dollar rebounds ahead of the Jackson Hole Symposium.

S&P500 futures generate stellar gains in London, carry-forwarded buying spree of Wednesday as investors hope that Federal Reserve (Fed) Chair Jerome Powell will not discuss about further policy-tightening. Meanwhile, 10-year US Treasury yields rebounded to near 4.20% after a heavy decline.

The US Dollar Index comes out of the consolidation formed around 103.30 and moves above 103.60. The USD Index witnessed selling pressure on Wednesday after S&P Global reported poor preliminary PMIs for August.

Investors should note that the USD index rebounds despite weak PMI figures as other G7 economies have also recorded vulnerable economic activity data. The scale of weakness in US PMIs is lower than PMI numbers posted by other developed nations, which is expected to keep the US Dollar in the driving seat against other currencies.

Meanwhile, hopes of more interest rates from the Fed have faded but rates are expected to remain elevated for a longer period. Going forward, the US Durable Goods Orders data for July will be keenly watched, which will be published at 12:30 GMT.

The Swiss Franc front comes under pressure as investors remain mixed about the monetary policy from the Swiss National Bank (SNB), which will be announced on September 21. Swiss inflation has come down below 2%, which could allow the SNB to keep interest rates unchanged and assess the impact of already tightened monetary policy.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.8809 at the time of writing. Pair opened at 0.8781 and is trading with a change of 0.32 % .

The pair is trading above its 20 Daily moving average @ 0.8762, above its 50 Daily moving average @ 0.8801 , below its 100 Daily moving average @ 0.8894 and below its 200 Daily moving average @ 0.909

The previous day high was 0.8817 while the previous day low was 0.8774. The daily 38.2% Fib levels comes at 0.8791, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8801, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.8764, 0.8747, 0.8721
• Pivot resistance is noted at 0.8807, 0.8834, 0.8851

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