USD/CHF retakes 1.0100 mark and beyond, US data in focus

The greenback continues surge across the board, helping the USD/CHF major to reclaim 1.0100 handle and jump to multi-day tops.

Currently trading around 1.0110-15 region, testing session peaks, the pair regained traction on Wednesday as market participants increasingly shifted their focus to the next FOMC monetary policy meeting, against the backdrop of recent hawkish rhetoric from various Fed officials. 

Growing bets for an imminent Fed rate-hike action at its meeting in two weeks seems to have reignited the greenback's previous bullish trend, with the key US Dollar Index fast approaching the 102.00 handle and collaborated to the strong bid tone surrounding the major.

In addition, the prevalent risk-on mood, which tends to dent the Swiss Franc's safe-haven appeal, is further supportive of the pair's up-move to weekly highs. 

Wednesday's US economic docket features the release of personal income / spending data, the Fed's preferred inflation gauge - Core PCE Price Index and ISM manufacturing PMI, and would be looked upon for fresh impetus during NA session. 

Technical levels to watch

Immediate upside resistance is pegged near 1.0140 level (Feb. 22 high), above which the pair is likely to head towards testing 1.0170 horizontal resistance before eventually aiming to reclaim 1.0200 round figure mark. On the flip side, retracement back below 1.0090 level is likely to get extended towards 1.0060 support, which if broken might now drag the pair, even below 100-day SMA support near 1.0040-35 region, towards retesting parity mark.