The pair extends gains amid mixed economic signals, with Swiss unemployment at a five-year high and US services data meeting forecasts.
The US Dollar (USD) climbed against the Swiss Franc (CHF) for a second straight session, testing resistance at 0.8075. Shallow pullbacks and a mild bullish trend reflect cautious optimism, though momentum indicators show mixed signals.
Swiss Foreign Currency Reserves increased to CHF 759 billion in June from CHF 711 billion in May, according to data. However, the Swiss Franc remains under pressure after unemployment rose to 3.1%, its highest level in five years. US services data met expectations, with the ISM Services PMI signaling solid growth, while the S&P Global PMI unexpectedly slowed.
Technical analysis suggests a break above 0.8075 could target 0.8120-0.8135, while a drop below 0.8045 may push the pair toward 0.8010.