• USD/CHF  halted its three back-to-back sessions of gains and dipped into negative territory in early European trades after positive Swiss GDP data buoyed CHF bulls
  
  
• Swiss real GDP growth for Q2 came in at 0.2 pct q/q vs forecast of -0.1 pct, y/y growth was 1.2 pct vs forecast of 0.9 pct
  
  
• US dollar also remains broadly weak after profit-taking was seen in the markets following the recent US GDP-led rally, aiding the downside
  
  
• The pair halted its three back-to-back sessions of gains, struck session lows at 0.9623 on the data release 
  
  
• USD/CHF pared some losses and has edged higher to currently trade at 0.9643, strong resistance seen at cloud base by 0.9670, breaks above could see the pair at 0.9687 (21-DMA)
  
  
• Supports on the downside are seen at  0.9540 (200 DMA) and further below at 0.9513 (Hourly Low Aug 27)
  
  

Resistance Levels:

R1: 0.9670 (Cloud base)

R2: 0.9687 (21-DMA)

R3: 0.9777 (Daily High Aug 19)

Support Levels:

S1: 0.9540 (200 DMA)

S2: 0.9513 (Hourly Low Aug 27)

S3: 0.9455 (Daily Cloud Top)