USD/CHF tested its 0.8060–0.8070 support zone earlier today and rebounded back above its 100-hour moving average. Buyers now need to clear the 0.8108–0.81195 resistance area, where the falling 200-hour moving average adds further pressure, to extend the recovery.
USD/CHF slipped into its 0.8060–0.8070 swing-support zone earlier today, and buyers stepping in there sent the pair's low to 0.8061 before a sharp rebound. That bounce carried the pair back above its 100-hour moving average, now at 0.80878.
Reclaiming that level shifts the short-term bias modestly back in favor of buyers, though there is still work to do. The next hurdle sits in the swing-resistance area between 0.8108 and 0.81195, where the falling 200-hour moving average adds further pressure. So far, the rally has stalled at 0.8102, just short of that zone.
In an earlier analysis of the pair, sellers needed to break below the 0.8060–0.8070 zone and then clear the 38.2% retracement level at 0.80491 to strengthen their grip. That break never came, and the price has since moved the other way.
As long as price holds above the 100-hour moving average, buyers keep control of the near-term bias. That average now serves as the key close-risk level for traders who bought near the 0.8060 support area. A drop back below it would weaken the bullish case and turn focus back toward the 0.8060–0.8070 zone.
Clearing 0.81195, where the swing resistance and the falling 200-hour moving average align, would open the door for further upside. That would let traders redefine risk against 0.8108.
Source: Investinglive
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