The greenback is advancing further vs. its Swiss peer on Monday, lifting USD/CHF to fresh highs near 1.0040
USD/CHF focus on US data, risk
A better tone in the risk-on space is accelerating the outflows from the safe have CHF at the beginning of the week, allowing spot to extend further its recent break above parity level.
The greenback remains underpinned by recent auspicious results from US inflation figures tracked by the PCE (Friday) and today’s cut of the RRR by the PBoC, all ahead of key releases ahead in the week, including ISM Manufacturing and Non-farm Payrolls.
USD/CHF key levels
The pair is now up 0.59% at 1.0019 facing the next up barrier at 1.0031 (61.8% Fibo of 1.0262-0.9658) ahead of 1.0120 (76.4% Fibo of 1.0262-0.9658) and finally 1.0262 (2016 high Jan.29). On the other hand, a break below 0.9895 (20-day sma) would open the door to 0.9801 (23.6% Fibo of 1.0262-0.9658) and then 0.9768 (200-day sma).
(Market News Provided by FXstreet)
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