USD/CHF edges higher, approaches 0.9800

USD/CHF made another upside attempt and approaches the 0.98 mark as the greenback gathers steam ahead of the Wall Street opening and the release of personal income/spending data.

USD/CHF climbed a tad further and reached its highest level in almost 3 weeks at 0.9794, but still lacked momentum to clear the 0.9300 psychological hurdle. At time of writing, the pair is trading at 0.9790, recording a 0.1% gain on Monday.

The greenback started the week on a firm foot, as prospects of another rate hike by the Fed this year were lifted after Jackson Hole.

USD/CHF levels to watch

In terms of technical levels, next resistances line up at 0.9800 (psychological level), 0.9818 (Aug 10 high) and 0.9830 (200-day SMA). On the flip side, supports are seen at 0.9764 (Aug 29 low), 0.9740 (100-day SMA) and 0.9703/00 (20-day SMA/psychological level).