USD/CHF rises to near 0.9900

Ani Salama FXStreet

The US dollar gathered momentum and pushed higher across the board, reaching fresh highs near 0.99 against the franc.

USD/CHF climbed to a peak of 0.9891 before losing momentum in sync with a bout of dollar buying. At time of writing, the pair is trading at 0.9885, up 0.35% on the day.

On the data front, US Markit manufacturing PMI came in at 52.9 in July, above the 51.6 expected, helping the dollar.

USD/CHF technical levels

As for technical levels, next resistances line up at 0.9900/05 (psychological level/Jul 21 high), 0.9920 (Jun 3 high) and 0.9950 (Jun 5 high). On the flip side, supports are seen at 0.9852 (200-day SMA), 0.9840 (Jul 21 low) and 0.9810 (20-day SMA).

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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