USD/CHF: The Swissy ready to breakout ahead of Quarles speech

• The USD/CHF is trading rangebound between the 100 and 200 SMA on the 4-hour chart. 

• US ISM non-manufacturing PMI and Fed Quarles speech coming up next.

The USD/CHF is trading slightly up at around 0.9380 just below the 200-period simple moving average on the 4-hour chart. 

Coming up next is the US ISM non-manufacturing PMI which is expected to decelerate to 59.4 in February. Later on, at 18.15 GMT, the US Federal Reserve Vice Chairman Randal Quarles will be discussing foreign bank regulation "Institute of International Bankers Annual Washington Conference" in Washington, DC. 

No macroeconomic news is scheduled for the Swissy on Monday however on Tuesday will see the Consumer price index data (CPI) for February. So the US Dollar will likely set the tone for the US session on Monday.  

Last week saw a 180-pip advance in the USD/CHF to be erased on Friday on the back of less hawkish rhetoric from new Fed Chairman Jerome Powell with the pair being pinched now between the 100  and 200-period simple moving average after having formed a small base in the 0.9350 and 0.9400 base. Intraday resistance is seen at 0.9420 with the 23.6% Fibonacci retracement level from the February 16-March 1 bull move. Further up 0.9490 should provide resistance being the cyclical high. To the downside, intraday resistance is seen at 0.9350 with the 100-period simple moving average and the 50% Fibonacci retracement less than 20 pips away. Further down, the 61.8% Fibonacci retracement support at 0.9300 if taken out can lead to further losses all the way to 0.9186 which is the cyclical low.  

USD/CHF: 4-hour chart