USD/CHF clinches highs near 0.9770

The now bid tone around the greenback is lifting USD/CHF to test the area of daily highs in the 0.9770/75 band.

USD/CHF firmer ahead of ADP

The pair is reverting yesterday’s pullback and it seems now on its way to challenge recent tops above the 0.9800 handle, all sustained by a pick up in the buying interest around the buck.

On the data front, inflation figures in Switzerland showed the CPI rose at a monthly 0.1% and contracted less than estimated 0.4% on a year to June. In the US calendar, the ADP report is expected to come in at 159K for the last month, seconded by Initial Claims.

USD/CHF key levels

The pair is now up 0.23% at 0.9771 facing the next hurdle at 0.9806 (high Jul.6) followed by 0.9839 (high Jun.28) and finally 0.9847 (200-day sma). On the flip side, a breach of 0.9684 (low Jul.5) would open the door to 0.9517 (low Jun.23) and finally 0.9440 (2016 low May 3).