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USD/CHF rises toward 0.8300 as bulls regain control

The pair was last around 0.8244, after rebounding from a drop below 0.8200 that followed a September 16 yearly high near 0.8263.

Reported · Written up by our desk · Major Pairs

USD/CHF edged higher on Wednesday, climbing about 0.5% as bullish momentum resumed after a retracement that pushed the exchange rate below 0.8200. FXStreet said the pair was trading around 0.8244 at the time of writing, after previously reaching a yearly high near 0.8263 on September 16.

FXStreet tied the move to a recent rise in the US dollar as markets price in additional Federal Reserve rate hikes. The outlet pointed to continued bullish structure on the daily chart, supported by RSI.

Looking ahead, FXStreet said a clear move above the prior year-to-date high could put 0.8300 in focus, with potential upside levels including 0.8347 and then 0.8400. On the downside, the article flagged 0.8200 and then 0.8183, followed by psychological support at 0.8150 and 0.8100.

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