USD/CHF consolidating the upside near 1.0950

The USD/CHF pair is seen building onto yesterday’s gains and hovers near three-month tops, as the USD bulls remain in control as we progress towards the European opening bells.

USD/CHF: Fed speak eyed

Currently, the USD/CHF pair trades +0.19% higher near fresh three-month highs of 0.9955, making headways towards parity.  The US dollar remains strongly bid against its major competitors, in response to ECB induced weakness in the EUR/USD pair. Meanwhile, the USD index trades +0.10% higher at 98.38, retreating slightly from seven-month highs.

Nothing of note for the major in the day ahead, except for the speech by Fed member Tarullo, and hence, the spot will remain at the mercy of the USD dynamics.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9955 (multi-month highs) and above which it could extend gains to 0.9974 (mid-Fed high) and 1.0000 (parity) next. To the downside, immediate support might be located at 0.9909/01 (5 & 10-DMA) and below that 0.9867 (daily S1) and from there to 0.9828 (20-DMA).