• US dollar pares losses and extends recovery from China-driven drop ahead of an eventful EUR calendar
  
  
• USD/CHF pared losses from 0.9737 levels and has resumed uptrend, currently trading at 0.9763
  
  
• Growing China fears could continue to underpin the safe-haven appeal of the Swiss franc, a possible risk to the uptrend
  
  
• Due later in the day are a raft of EZ PMIs and also Draghi's testimony which may provide fresh cues on the euro
  
  
• USD/CHF is currently trading at 0.9748, with immediate resistance at 0.9796 (Daily High Sep 11), and support at 0.9727 (Daily Cloud Top)
  
  
• Pair likely to extend gains above 0.9800 levels, 0.9824 high from Sept 9 is the next port of call for the bulls
  
  
• Close above the Sep 17th high and daily pivot point at 0.9725 shakes off last week's plunge
  
  

Resistance Levels:

R1: 0.9796 (Daily High Sep 11)

R2: 0.9824 (Daily High Sep 9)

R3: 0.9887 (Daily High Aug 12)

Support Levels:

S1: 0.9727 (Daily Cloud Top)

S2: 0.9710 (Daily Low Sept 22)

S3: 0.9707 (10 DMA)