USD/CHF surpass 100-DMA with ease, now eyeing 0.9800 and beyond

Maintaining it strong bid, the USD/CHF pair gained further traction and extended its up-surge to currently trade comfortably above 100-day SMA region at 0.9770, inching closer to Brexit led Friday's swing high level of 0.9800 round figure mark.

The US Dollar continues to strength on safe-haven flows led by global risk-aversion mood triggered by an unexpected outcome of the crucial UK-EU referendum with majority of the Britons voting to leave the European Union. 

The Swiss Franc remained well offered against its US counterpart on Monday as global risk-off continued weighing on investor sentiment, lifting the pair back towards a three-week high level of 0.9800 touched on Friday.

Technical levels to watch

On a sustained move above 0.9800 handle, the pair seems all set to extend its up-move further towards resistance around 0.9860-70 region ahead of a key 0.9900 resistance and May daily closing highs resistance around 0.9945-50 region. 

Conversely, weakness back below 100-day SMA support around 0.9750 level and a subsequent break below 50-day SMA support around 0.9730 region, now seems to drag the pair below 0.9700 round figure mark, towards testing 0.9650 strong horizontal support.