USD/CHF pushes higher near 0.9820, session tops

The greenback keeps the upbeat tone across the board on Tuesday, with USD/CHF now expending the recent breakout of 0.9800 the figure.

USD/CHF challenges 200-day sma

The pair is advancing for the third straight session so far today, gaining over a cent since last week’s troughs in the vicinity of 0.9640.

Spot has managed to erode the critical 200-day sma in the 0.9800 neighbourhood earlier in the European morning, although a more sustainable breakout seems to need a stronger catalyst.

Nothing appealing from the data space today, although USD derived extra support from comments by Richmond Fed J.Lacker, who said that policy rates should be at least at 1.5% by now and than a pre-emptive rate hike is critical for stable inflation.

USD/CHF key levels

The pair is now up 0.82% at 0.9815 facing the next hurdle at 0.9851 (high Aug.9) followed by 0.9889 (high Sep.1) and then 0.9956 (high Jul.27). On the other hand, a breach of 0.9734 (20-day sma) would expose 0.9635 (low Sep.29) and finally 0.9532 (low Aug.18).