A mix of positive factors helped the USDCHF pair to recouped positive traction at the beginning of a new week. The pair proceeded with its struggle to make it through the 1.0020 supply zone.
The pair got some fresh bids on Monday and was currently observed attempting to build on the last week’s abrupt turnaround from near 4-week lows, contacted in response to failed negotations between the US and North Korea.
The price is now consolidating around 1.0008. It would now be interesting to check if the pair is able to sustain/build on the positive momentum or continues facing some fresh supply at higher levels in the midst of missing significant market moving economic news from the US today.