USD/CHF stays firmer for the sixth consecutive day, taking rounds to 0.9740-45 during early Friday morning in Europe. In doing so, the Swiss currency (CHF) pair remains near the highest levels since mid-June while poking the 50-DMA for the third day in a row.
Although the quote failed to cross the key DMA hurdle two times during the week, the bulls are likely to win the latest battle as the quote remains firmer past 20-DMA and the RSI (14) also grinds higher.
Following that, the USD/CHF prices could rally to the early May swing high near 0.9800 before challenging the two-month-old horizontal resistance, near 0.9870.
It should be noted, however, that the pair’s run-up beyond 0.9870 enables the buyers to challenge the yearly top marked in May at around 1.0065. During the rise, the 1.0000 psychological magnet could probe the bulls.
Meanwhile, pullback moves remain elusive until staying beyond the 20-DMA level of 0.9688.
Should the USD/CHF bears manage to conquer the 20-DMA support, a downward trajectory towards the 100-DMA support of 0.9545 can’t be ruled out. Also challenging the pair’s downside is June’s low around 0.9495.

Trend: Further upside expected
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