USD/CHF sits comfortably above parity mark, 7-month tops

   •  Reviving USD demand helps the pair to continue gaining positive traction.
   •  Fading safe-haven demand further undermines CHF and remains supportive.

Having posted a session low level of 0.9984, the USD/CHF pair caught some fresh bids and was now seen building on its momentum back above the parity mark.

Currently placed at 7-month tops, around the 1.0020-25 region, some renewed US Dollar demand was seen as one of the key factors driving the pair higher. With investors looking past Friday's mixed US monthly jobs report, the USD bulls now seemed taking cues from a goodish pickup in the US Treasury bond yields. 

This coupled with the prevalent risk-on mood, as depicted by positive trading sentiment around equity markets, was further seen weighing on the Swiss Franc's safe-haven appeal and remained supportive of the pair's up-move at the start of a new trading week. 

It would now be interesting to see if the ongoing momentum is strong enough to lift the pair beyond 1.0035-40 supply zone amid empty US economic docket. Meanwhile, traders might take cues from speeches by Atlanta Fed President Raphael Bostic and Richmond Fed President Thomas Barkin, due later in the day.

Technical levels to watch

Immediate resistance remains near the 1.0035-40 region, above which the pair seems all set to extend the bullish trajectory further towards testing the 1.0100 handle. On the flip side, any retracement back below the 1.0000 mark now seems to find immediate support near the 0.9960 region, which if broken might prompt some long-unwinding trade and drag the pair back towards the 0.9900 handle.