USD/CHF surges to 1.0050, highest since May 2017

   •  Persistent USD buying interest helps build on the momentum beyond parity mark.
   •  Fading safe-haven demand provides an additional boost and remains supportive.

The USD/CHF pair continued scaling higher through the mid-European session and jumped to near one-year tops, around the 1.0045-50 region, in the past hour.

The US Dollar built on its recent bullish momentum to 4-month tops and was seen as one of the key factors driving the pair higher at the start of a new trading week. Despite Friday's mixed US monthly jobs report, the USD buying remains uninterrupted and was further supported by an uptick in the US Treasury bond yields.

Adding to this, the prevailing risk-on mood, as depicted by a positive trading sentiment around European equity markets was further seen denting the Swiss Franc's safe-haven appeal and remained supportive of the pair's strong gains.

With today's up-move, the pair has now climbed over 850-pips from sub-0.9200 level touched in mid-February, with a follow-through momentum, led by some fresh technical buying above the parity mark now looking a distinct possibility.

Technical levels to watch

The ongoing momentum seems strong enough to get extended towards 1.0065 intermediate resistance before the pair eventually darts towards reclaiming the 1.0100 handle. On the flip side, any meaningful retracement slide now seems to find strong support near the parity mark, which if broken might prompt some long-unwinding trade and accelerate the fall towards 0.9960 horizontal support.