USD/CHF gains further traction, jumps to 0.9750

A fresh bout of buying interest seems to have emerged, helping the USD/CHF pair to build on to Wednesday's strong gains and break through 100-day SMA to currently trade around 0.9750 region.

After a brief consolidation during Asian and early European trading session, the pair resumed its bullish traction and jumped to weekly high level amid tepid rebound in the greenback. 

The US Dollar is extracting benefit from yesterday's stronger-than-expected US private sector employment data, which is considered as precursor to the official jobs report. Hence, focus would remain on Thursday's US economic releases, especially the release of weekly jobless claims data later during NA trading session ahead of Friday's NFP data. 

Technical levels to watch

From current levels, the upward trajectory seems to get extended towards 50-day SMA resistance near 0.9760, which if conquered is likely to set the stage for continuation of the pair's appreciating move towards the very important 200-day SMA resistance near 0.9855-60 region.

On the flip side, 100-day SMA near 0.9730 region now seems to protect immediate downside, which if broken could drag the pair back below 0.9700 handle, towards 0.9685-80 support.