USD/CHF attempting a fresh break-out above 200-DMA

Building on to Friday's strong up-move, the USD/CHF pair managed to move back above 200-day SMA and jump to the highest level in over two-weeks. 

Currently trading around 0.9815, the pair initially struggled to sustain its move above 0.9800 handle and surpass 200-day SMA strong resistance amid broad based weaker sentiment surrounding the greenback. 

The pair, however, managed to regain traction and a follow through buying interest would confirm a breakout momentum and pave way for further near-term appreciating move in the near-term.

In absence of any market moving economic releases from the US, the pair might continue to be driven by the prevalent sentiment around the greenback. This week's key event risk, the Fed monetary policy decision, would be the next big fundamental trigger that would help investors to ascertain the next leg of move for the major. 

Technical levels to watch

Immediate upside resistance is pegged at 0.9835 above which the pair seems all set to retest early September high resistance near 0.9885 level. On the downside, 0.9800 handle now becomes immediate support, which if broken is likely to drag the pair back towards 0.9765-60 resistance break-point now turned important support.