USD/CHF regains upside momentum, back above 0.9750

The US Dollar maintained its strong bid tone against the Swiss Franc, with the USD/CHF pair now extending its appreciating move to currently trade back above 0.9750 level. 

The initial reaction to the final outcome of the historic Brexit referendum saw the pair surge to 0.9800 handle before retracing back below 0.9700 handle after the SNB made a statement showing its readiness to intervene in the FX market. 

However, as volatility remained elevated investors continue to pile onto traditional safe-haven currencies - like the US Dollar and the Japanese Yen, with the USD/CHF pair attracting fresh bids around 0.9700 handle.

Moving ahead, investors now look forward to the release of US Durable Goods Orders, later in NA session, in order to grab some short-term trading moves.

Levels to watch

Momentum back above 0.9800 level should eye 0.9900 (June 03 high) ahead of two-month high resistance around 0.9950-60 area. On the downside, weakness below 0.9665 (May 8 low) support is followed by support around 0.9600 region.