The currency pair breaks above key resistance at 0.7878, targeting the 200-day moving average at 0.79187.
USDCHF surged to its highest level since April 30, extending gains after buyers defended a critical support zone near the 100-hour and 100-day moving averages. The pair initially faced resistance at 0.7868–0.7878 but broke through, turning the zone into new support and fueling further upside momentum.
The next major target is the 50% midpoint of the March 31 decline at 0.79014, with a break above potentially accelerating bullish sentiment. The 200-day moving average at 0.79187 remains a key long-term resistance level, having capped previous rallies since April 8.
Traders are closely watching whether the pair can sustain a move above the 200-day average, which would signal a broader shift in technical bias.