USD/CHF jumps to multi-day tops, beyond mid-0.9600s

The USD/CHF pair was seen building on Friday's up-move from sub-0.9600 level and is now inching back closer to near two-week tops touched last Wednesday.

Currently placed at session tops, around 0.9660-65 region, a modest pick-up in the US Dollar demand, underpinned by Friday's upbeat headline NFP print, has been one of the key factors driving the pair higher for the second consecutive day.

This coupled with the prevalent risk-on environment, as depicted by strong gains in European equity markets, was also seen weighing on the Swiss Franc's safe-haven appeal and collaborated to the pair's strong up-move through European trading session at the start of a new trading week. 

The pair remains at the mercy of broader market risk sentiment and the USD price-dynamics amid absent fundamental drivers from the US economic docket. Later during the week, the Fed Chair Janet Yellen's testimony and important US macro data - monthly retail sales and the latest CPI print would now help determine the next leg of directional move for the major.

Technical levels to watch

Immediate resistance is pegged near 0.9685-90 area (July 5 high), above which the pair is likely to dart towards its next resistance near 0.9725 level en-route 0.9755-60 strong hurdle. 

On the flip side, support is now seen near 0.9640-35 region, which if broke could drag the pair back towards the 0.9600 handle before eventually aiming to retest multi-month lows support near 0.9560-55 region.