USD/CHF off highs, back to test 0.9800

The Swiss franc is up smalls vs. its American peer on Monday, taking USD/CHF back to the 0.9800 neighbourhood.

USD/CHF upside faltered around 0.9815

After a brief test of session highs at 0.9815 and Friday’s post-NFP tops near 0.9840, the pair has now returned to the vicinity of the 0.9800 handle.

The Swiss safe haven managed to gather some traction and is currently threatening to snap a 3-day positive streak.

Data wise in the Alpine economy, inflation figures gauges by the CPI have contracted 0.4% inter-month in July and dropped 0.2% on a yearly basis, both prints coming in better than initially estimated.

In the US docket, the Fed’s Labor Market Conditions Index is due later.

USD/CHF key levels

The pair is now losing 0.04% at 0.9806 facing the next support at 0.9769 (55-day sma) followed by 0.9735 (100-day sma) and finally 0.9628 (low Aug.2). On the flip side, a surpass of 0.9836 (high Aug.5) would aim for 0.9859 (200-day sma) and then 0.9956 (high Jul.27).