USD/CHF hovering around yearly highs ahead of SNB

The greenback gained fresh traction in the past hour, with the USD/CHF pair accelerating its strong up-move back closer to yearly highs touched during Asian session on Thursday. 

Currently trading around 1.0240 region, Wednesday's FOMC decision to hike interest rates for the first time since Dec. 2015 and hawkish outlook continued supporting strong bid tone surrounding the US Dollar for the second consecutive day. 

With the key event risk out of the way, investors shift their attention to the release of SNB's quarterly monetary policy assessment, and subsequent press conference, for fresh impetus. 

Later during the day, US economic docket that includes - CPI print for November, Philly Fed Manufacturing Index and weekly jobless claims, would determine the pair's further movement during NA session.

From technical perspective, the pair has broken through its recent consolidation phase and now reached a key yearly resistance level. Hence, a follow through buying interest would pave way for continuation of the pair's near-term upward trajectory.

Technical levels to watch

On a decisive move above 1.0250-55 immediate resistance (yearly highs), the pair is likely to extend its bullish momentum towards 1.0300 handle before heading towards 2015 yearly high resistance near 1.0330 level. On the downside, any pull-back now seems to find immediate support near 1.0215-10 region, which if broken is likely to drag the pair immediately towards 1.0170 horizontal support.