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USD/CHF rebounds above 0.8100 as CHF weakens

The pair is up 0.3% at 0.8101, after bottoming at 0.8034 last week and forming higher lows over the past four sessions.

Reported · Written up by our desk · Major Pairs

FXStreet reports that USD/CHF reclaimed the 0.8100 level in a session where the Swiss franc weakened versus the US dollar as risk appetite improved.

At the time of writing, USD/CHF traded at 0.8101, up 0.32%, after reaching a three-day low of 0.8034 last week when the greenback weakened.

The outlook in the report points to a bullish near-term setup, citing successive higher lows over the past four trading days and an RSI reading that suggests buyers are in control.

Key levels highlighted include resistance at 0.8172, then 0.8200, 0.8215, and 0.8250, while support is listed at 0.8061, followed by 0.8033 and the psychological 0.8000.

Beyond that, a break below 0.8000 is described as opening the way for a move toward the 50-day simple moving average around 0.7979.

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