USD/CHF making a fresh attempt to conquer 200-DMA

The USD/CHF pair was seen making a fresh attempt to move back above 200-day SMA and aim towards reclaiming 0.9800 handle.

Currently trading around 0.9790 region, the pair on Friday ran through fresh offers at 5-week high level of 0.9840 following the release of monthly jobs report that showed the US economy added less-than-expected 156K new jobs in September. The pair subsequently reversed back below 0.9800 handle, once again failing to sustain its move above the very important 200-day SMA and 0.9800 handle. 

Monday's release of slightly better-than-expected unemployment rate from Switzerland, which ticked-lower to 3.3% in September from previous month’s 3.4%, failed to benefit the Swiss Franc as the greenback remains underpinned by Friday's comments from Cleveland Fed President Loretta Mester that continued fueling speculations of an eventual Fed rate-hike action by the end 2016. 

Going forward, this week's focus would be on the release of minutes from Fed's latest monetary policy meeting and US monthly retail sales data. Meanwhile on Monday, the pair is likely to witness subdued trading action amid thin liquidity conditions on the back of a US holiday in observance of Columbus Day.

Technical levels to watch

Immediate upside resistance is pegged at 0.9800 handle above which the pair is likely to aim back towards 0.9840 (Friday's swing high) before darting towards September monthly high resistance near 0.9885 level.

Conversely, weakness below 0.9775-70 (session low support) seems to drag the pair back towards 0.9750 region (100-day SMA support) ahead of 50-day SMA support near 0.9730 region.