USD/CHF touches a two-month high level of 0.9886

The USD/CHF pair extended the 0.9835-40 resistance break-out momentum on Thursday and rose to 0.9885, marking its highest level since mid-March.

As Wednesday's Fed minutes kept June rate-hike prospects alive, the pair pierced through the 100-day and 200-day SMAs confluence resistance. The momentum was strong enough that assisted the pair to break past the following resistance near 0.9870 level.

The pair on Thursday is trading above 0.9870 and might now be eyeing to reclaim 0.9900 handle. A clear break through 0.9900 handle would add to the intra-day bias on the upside for the pair.

Technical levels to watch

Above 0.9900 level, the pair seems to immediately head towards 0.9945-50 resistance before making a dart towards reclaiming the parity mark.

On the flip side, dip below 0.9870 might now find immediate support at the strong confluence resistance break-point near 0.9840-35 region. Dip below the resistance turned support region might be short-lived and is likely to get bought into near 0.9800 round figure mark.