USD/CHF taps 0.9900 handle for the first time since July 27

The USD/CHF pair extended its upward trajectory for the third consecutive session and touched 0.9900 handle for the first time since July 27.

The greenback, as measured by the overall US Dollar Index, caught up fresh bids amid increasing bets of an eventual Fed rate-hike decision as market participants now look forward to minutes from FOMC's September policy meeting in order to evaluate possibilities of such an action before the end of this year. 

Later during the day, speeches from Federal Reserve Bank of New York President William Dudley and Federal Reserve Bank of Kansas City President Esther George might also provide impetus during early NA session. 

From technical perspective, sustained move above the very important 200-day SMA, and a subsequent bullish momentum to over 2 1/2 month high, is supportive for continuation of the pair's near-term upward trajectory.

Technical levels to watch

From current levels 0.9920-25 area seems to act as immediate resistance above which the pair seems all set to test July monthly high resistance near 0.9950 region. On the flip side, session low near 0.9875 level now seems to act as immediate support, below which the pair might extend the corrective move towards 0.9815-10 strong horizontal resistance turned support area.