USD/CHF attempting a fresh move towards 103.00 mark

The USD/CHF pair maintained its bid tone and was seen attempting a fresh move towards 1.0300 handle. 

Currently trading around 1.0280-85 band, the pair extended near-term range-bound movement amid subdued trading action on Tuesday, within a broader trading range. 

Looking at the broader picture, the pair's near-term price action could be categorized as consolidation phase following its strong up-move to the highest level since August 2010. 

In absence of any fresh fundamental drivers, investors might turn reluctant to initiate fresh US Dollar bullish positions and might continue to restrict further upside near 1.0300 handle.

Traders on Tuesday will remain focused on the release of Conference Board's consumer confidence index for December, due later during NA session and is expected to better November's reading of 107.1.

Technical levels to watch

Immediate resistance is seen near 1.0300 psychological mark above which the pair is likely to dart towards multi-year highs resistance near 1.0340-45 region. On the flip side, 1.0265 level now seems to protect immediate downside, which if broken might accelerate the slide towards recent lows support near 1.0220 area.