USD/CHF making headways towards fresh weekly highs

The USD/CHF pair remains better bid in early Europe, gradually inching towards fresh one-week highs reached just shy of 0.9850 a day before.

USD/CHF hovers around 200-DMA at 0.9833

Currently, the USD/CHF pair trades +0.10% higher at 0.9833, hovering close to fresh session highs posted at 0.9836 some minutes ago. The major prolongs its upward trajectory for the fifth consecutive session today, with the bulls closely tracking the bullish streak in the US dollar, in wake of fresh bets for a Fed rate hike this year.

Going forward, the immediate focus now remains on the Swiss employment data due out shortly, especially after the Swiss CPI data failed to impress markets yesterday. While a series of US economic data will be published in the NA session.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9850 (key resistance) and above which it could extend gains to 0.9900 (round number). To the downside, immediate support might be located at 0.9802 (5-DMA) and below that 0.9761/57 (50 & 100-DMA).