FX.co ★ blaise.rogahn | USD/CHF

USD/CHF: bulls storm resistance at 0.8200 The pair has been steadily rising since April, gaining more than 4%. The dollar is supported by high yields on US bonds and expectations that the Fed will maintain its tight policy, while the Swiss franc is losing some safe-haven demand amid improving sentiment in global markets. From a technical point of view, the initiative remains entirely with buyers. On the daily chart, the price is holding above all key EMAs, and the RSI is in the strength zone with no signs of overbought conditions. The key level is 0.8200. The weekly 100 EMA passes here and there is important psychological resistance. A consolidation above this mark may open the way to 0.8300. The nearest support is located in the 0.8130–0.8150 area, where the 20 EMA of the daily chart runs. As long as the price holds above this zone, the uptrend remains intact. My scenario: I expect an attempt to break through 0.8200. If buyers manage to consolidate above it, the next target will be 0.8300. In case of a pullback to 0.8130–0.8150, I will view it as an opportunity to look for new buys, not as a reversal signal.