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USD/CHF climbs, reclaiming 0.8100 as the pair nears a one-year high
The report cited a bullish technical setup, with USD/CHF at 0.8146, up more than 0.20%, and resistance seen at 0.8149 before higher levels at 0.8172 and 0.8200.
USD/CHF strengthened on Wednesday as buyers reclaimed the 0.8100 area, even as the US dollar lost ground against most other G8 currencies. FXStreet reported the pair was trading around 0.8146, up more than 0.20%, with the Swiss franc still acting as a safe-haven counterweight.
FXStreet said the daily structure remains bullish, with USD/CHF printing higher highs and higher lows. The outlet also cited a bullish reading on the Relative Strength Index as a sign buyers were building momentum.
The near-term upside focus highlighted by FXStreet starts with the July 13 high at 0.8149. It noted that clearing that level would open the door to 0.8172, then 0.8200.
On the downside, the report said USD/CHF would need to break below the latest cycle low at 0.8061, followed by the July 17 low and the July 10 swing low at 0.8030, with 0.8000 identified as the next area of interest.