The currency pair fell 0.16% as the US Dollar weakened on geopolitical optimism, targeting the 50-day SMA at 0.8042.
The USD/CHF pair declined 0.16% to trade below 0.8100 on Tuesday, pressured by a softer US Dollar amid improved risk sentiment. Renewed hopes for a US-Israel peace deal eased geopolitical tensions, weighing on the greenback.
Technical analysis shows the pair broke below a critical trendline, turning short-term bearish. The next support level is the 50-day Simple Moving Average at 0.8042, with further downside risks at 0.8000 and the 100-day SMA at 0.7957. The Relative Strength Index also signaled bearish momentum.
Despite the pullback, the broader uptrend remains intact, with higher highs and lows still in place. Resistance lies at 0.8100, followed by 0.8150 and the yearly high at 0.8207.