USD/CHF is trading under downside pressure after rejecting the .8150 current-year high, according to Continuum Economics technical analyst PakLai Ng. The pair has pulled back to strong support at .8040, with a break below opening the way toward .8010 and lower congestion zones.
USD/CHF turned lower after rejecting the .8150 current-year high and sliding back toward strong support at .8040, the level marked by the January and March highs. Pressure remains on the downside.
A break beneath .8040 would expose the .8010 low from 2 July to a retest. Losing that level, in turn, would open room for a deeper pullback within the bullish channel that runs up from the January year low. Below there, the analysis points to scope toward .7950 congestion and the .7910 low of 17 June.
On the upside, resistance at the .8100 congestion should cap any corrective bounce. Only a move above there and back through the .8150 high would extend gains and retrace losses from the January 2025 year high, according to the technical outlook.
Source: Continuum Economics
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