USD/CHF rises to near 0.9900

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).