The Swiss franc managed to stay higher against the dollar and the yen despite weaker-than-expected Swiss data Monday morning in Europe but USD/CHF is still holding on to an uptrend formed mid-October.

At 09:10 GMT, the pair was at 0.9798, down from Friday's close of 0.9833 but it falling below 0.9546 (S1) seems to be difficult, given the strength of an uptrend it is currently in.

Against the yen, the Swiss currency was at 85.61, after rising as high as 86.65, its highest since October 14 and sharply up from Friday's close of 85.12.

Data showed Swiss producer and import price index fell 0.2 percent in November against market expectation of a 0.1 percent rise. Year-over-year, the index rose only 0.1 percent lower than the street expectations of 0.3 percent. 

USD/CHF is currently testing the 50-day SMA at 0.9784 and targeting the 1.0064-81 region (R1) immediately on the upside. If the uptrend continues, 1.0331-1.0434 region (R2) will form next key resistance level for the pair.

If the pair fails to stick to the trend and falls below S1, it could face strong resistance at the 0.9724-0.9463 area (S2). 
With no data scheduled for Monday from the US, investors are eying US retail sales and producer price data for November as well as Fed's monetary policy announcement due Tuesday.

The EU leaders' summit scheduled for December 16-17 will also be crucial for the forex market as the outcome of the meeting which may address differences of opinion over the euro-area bonds will help gauge the demand for the greenback.

USD/CHF

USD/CHF is currently testing the 50-day SMA at 0.9784 and targeting the 1.0064-81 region (R1) immediately on the upside. If the uptrend continues, 1.0331-1.0434 region (R2) will form next key resistance level for the pair.