USD/CHF eyeing a break above Friday’s high

The USD/CHF pair is extending its winning streak into a third-day today, sending the rate further into the green zone in an attempt to take-out Friday’s high reached at 0.9754.

USD/CHF tracks USD index higher

Currently, the USD/CHF pair trades +0.15% higher at fresh session highs of 0.9751, looking to regain 200-DMA located at 0.9762.  USD/CHF is seen making an attempt to build onto yesterday’s gains, as the US dollar regains momentum and revisits daily highs versus its major peers, sending the USD index back towards 95.85 levels.

The ongoing strength behind the major is mainly driven by upbeat US economic data-inspired bullishness around the greenback. While a risk-friendly environment curbs the demand for safe-havens such as the CHF, which further justifies the USD/CHF advance.

Markets will continue to take cues from the RO-RO trends, in absence of significant macro news lined up for release today. While focus now remains on the US jobs data for fresh direction on the major.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9762 (200-DMA) and above which it could extend gains to 0.9792 (Sept 14 high) and 0.9820 (Aug 20 high) next. To the downside, immediate support might be located at 0.9709 (10-DMA) and below that 0.9650 (psychological levels) and from there to 0.9628 (Aug 26 low).