USD/CHF fast approaching 0.9900 handle

After a corrective pause on Thursday, the USD/CHF pair resumed with its near-term bullish momentum and is now heading back towards 0.9900 handle. 

Currently trading around 0.9885-90 area, the pair caught fresh bids around 0.9855-50 support area and has now erased major part of Thursday's corrective slide from 2 1/2 month high level above 0.9900 handle. 

The pair is also benefitting from increasing prospects of an imminent Fed rate-hike action by the end of this year, which continues to drive the greenback higher and the overall US Dollar Index inching back closer to seven-month high touched on Wednesday. 

Traders on Friday will focus on US economic releases that include - monthly retail sales, PPI and Prelim UoM Consumer Sentiment, along with the Fed Chair Janet Yellen's speech, in order to grab trading opportunities. 

Technical levels to watch

Immediate upside hurdle remains around 0.9900 handle, which if cleared decisively is likely to boost the pair immediately towards July swing high resistance near 0.9950-55 region before attempting a move towards parity mark.

On the downside, 0.9850 now seems to have emerged as immediate support below which the corrective move could get extended towards 0.9820-15 horizontal support en-route 200-day SMA support near 0.9790 region.