- USD / CHF gained momentum and regained positions on Monday, ending losing streak.
- Advance of the dollar along the market is behind the rise of the pair.
The pair USD / CHF bounced from lows of more than three weeks and rose to daily highs, around the 0.9160-65 region in the run up to the American session, in the face of a general rise in the dollar.
The pair attracted some buying on the first day of the new week and for now, it appears to have slowed its recent sharp pullback from the peak of three-month highs touched in early July. This marked the first day of a positive move after three previous declines and was sponsored by a good rally in demand for dollars.
Expectations that the Federal Reserve is approaching an analysis of tightening its monetary policy stance helped the dollar regain some positive traction on Monday. This week the key data in the US will be consumer inflation on Tuesday. Aside from this, Fed Chairman Jerome Powell’s biannual presentation in Congress on Wednesday and Thursday will be scrutinized for clues on the US central bank’s monetary policy outlook, which will influence the price dynamics of the US. dollar in the short term.
Another supporting factor is the cautionary tone in the market due to the economic consequences of the spread of the highly contagious delta variant of the coronavirus.
Technical levels
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