FXStreet (Mumbai) - The USD/CHF pair picked-up significant strength in recent dealings and jumped back on the bids, as the European stocks flipped back to gains. USD/CHF bounced-off lows near 20-DMA Currently, the USD/CHF pair trades 0.11% higher at 1.0055, reversing a spike to 1.0062 fresh session highs. The risk currency US dollar, found some support from the ongoing recovery in the European stocks and lifted USD/CHF from a brief downward spike to 1.0012, where the 20-DMA intersects. However, the upside remains capped as the pair fails to take-out key resistance near 1.0065 region, while the dip in the oil prices again combined with the cautiousness ahead of the ECB decision is also likely to keep a check on the prices. Looking ahead, markets now await the US economic releases, including the weekly jobless claims report and Philly Fed manufacturing gauge for fresh USD moves. USD/CHF Technical Levels To the upside, the next resistance is located 1.0100 (round number) levels and above which it could extend gains to 1.0124/31 (Jan 5 & 6 High). To the downside, immediate support might be located at 1.0016 (20-DMA) and below that 0.9963/54 (Jan 12 & 15 Low). For more information, read our latest forex news.