USD/CHF challenges parity level

USD/CHF broke through the 0.9950/60 area and rallied to its highest level in over seven months, although it faltered a few pips ahead of parity.

USD/CHF gathered momentum and climbed to a peak of 0.9997 during the New York session amid broad USD strength. At time of writing, the pair was trading at 0.9992, up 0.6% on the day.

The US dollar rallied across the board over the last minutes, leaving investors clueless about where the move came from in the absence of economic news.

USD/CHF levels to consider

In terms of technical levels, next resistances are seen at 1.0000 (psychological level), 1.0039 (Mar 9 high) and 1.0092 (Mar 10 high). On the flip side, supports could be found at 0.9911 (10-day SMA), 0.9854 (Oct 14 low) and 0.9841 (Oct 20 low).