USDCHF Technical Analysis: Prices continue to build the longest string of consecutive daily gains in 12 years

The US Dollar may be set to push above the parity threshold against the Swiss Franc after prices narrowly breached resistance above the 0.99 figure. A daily close above the 61.8% Fibonacci expansion at 1.0132 exposes the 76.4% level at 1.0313.

Resistance	Support
1.0132	0.9987
1.0313	0.9841
1.0604	0.9660

Entering long is tempting from a purely technical perspective but we will tactically opt to stand aside. Prices continue to build the longest string of consecutive daily gains in 12 years, warning that positioning may be increasingly stretched. With that in mind, chasing the pair higher seems unattractive at this point.