USD/CHF regained positive traction for the second consecutive session on Monday. A strong pickup in the USD demand was seen as a key factor driving the pair higher. The positive move seemed unaffected by a selloff across the global equity markets. The USD/CHF pair rallied around 65 pips from the early European session swing lows and shot to 1-1/2-week tops, around mid-0.9100s in the last hour. Following an early dip to the 0.9085 region, the pair caught some fresh bids and turned positive for the second consecutive session on Monday amid a strong pickup in the US dollar demand. The ever-increasing coronavirus cases dampened hopes of a V-shaped economic recovery and boosted the greenback’s status as the global reserve currency, which, in turn, was seen as a key factor driving the pair higher. The USD bulls seemed largely unaffected by a steep fall in the US Treasury bond yields and fading hopes for another round of the US fiscal stimulus measures. Investors remain worried that the lack of additional fiscal measures could halt the current US economic recovery. Nevertheless, the USD price dynamics was seen as the only factor driving the USD/CHF pair higher during the first half of the trading action on Monday. Meanwhile, negative developments surrounding the coronavirus saga weighed heavily on investors’ sentiment and dented demand for perceived riskier assets. The anti-risk flow was evident from a selloff across the global equity markets, which tends to underpin demand for the safe-haven Swiss franc and keep a lid on any strong gains for the USD/CHF pair, at least for the time being. From a technical perspective, the USD/CHF pair was last seen hovering near 50-day SMA resistance, around mid-0.9100s, which if cleared decisively will be seen as a fresh trigger for bullish traders. Bulls might then push the pair further towards monthly tops, around the 0.9200 mark, touched on September 8th. There isn’t any major market-moving economic data due for release on Monday. Hence, the key focus will be on the Fed Chair Jerome Powell’s speech. Powell’s comments might influence the USD price dynamics and produce some short-term trading opportunities later during the early North American session. Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP: Support at 0.9085/41 holds with resistance seen at 0.9209 – Credit Suisse FX Street 2 years USD/CHF regained positive traction for the second consecutive session on Monday. A strong pickup in the USD demand was seen as a key factor driving the pair higher. The positive move seemed unaffected by a selloff across the global equity markets. The USD/CHF pair rallied around 65 pips from the early European session swing lows and shot to 1-1/2-week tops, around mid-0.9100s in the last hour. Following an early dip to the 0.9085 region, the pair caught some fresh bids and turned positive for the second consecutive session on Monday amid a strong pickup in the US dollar demand. The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.