USD/CHF has climbed back above 0.8170 after the June high at 0.8139 held on an Asian-session dip. Two attempts to break the 100-hour moving average failed, and attention now shifts to the descending trendline near 0.8187.
USD/CHF rotated sharply higher to reclaim the 0.8170 level over the past few hours, turning the pair up on the day. That level marks the lower boundary of a key daily swing area.
Sellers took control first in Asia
The pair moved higher last week, testing a topside trendline connecting the series of lower highs dating back to July 1 on the hourly chart. It stalled against that trendline on both Thursday and Friday.
Then the Asian session answered the question, as USD/CHF gapped lower and fell back below 0.8170. The 0.8170–0.8214 zone stands as an important resistance area from the 2025 daily chart, and sellers moving below that level tilted the bias lower.
The June high held as support
The decline extended toward the rising 100-hour moving average, currently at 0.81477, and the June high at 0.8139 — both viewed as key support. Sellers made two attempts to break below the 100-hour moving average, but each failed. More importantly, the June high held, giving buyers the confidence to step back in.
Next test sits at 0.8187
The focus now shifts back to last week's highs and the descending trendline, currently near 0.8187. A sustained break above that resistance would increase the bullish bias and put the next major upside target at 0.8214, the upper end of the longer-term resistance zone from the daily chart.
Meanwhile, a Bloomberg report says the SNB expects to keep interest rates at 0% until the end of 2027, and the SNB declines to comment on the media report. That would be supportive of USD/CHF given more expectations of higher US rates, all things being equal.
Source: Investinglive
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