The currency pair recovers from weekly lows, supported by technical levels and potential intervention signals from US authorities.
The USD/CHF pair climbed to a daily high of 0.8127 before settling near 0.8080, recovering from earlier losses. The rebound follows reports that the US Treasury has alerted market participants to prepare for possible currency intervention, echoing recent actions by Japanese officials to support the yen.
Technical indicators suggest the uptrend remains intact as long as the pair holds above its 50-day simple moving average and the July 10 low of 0.8010. The Relative Strength Index (RSI) is turning upward, signaling potential further gains. A break above 0.8100 could target resistance at 0.8175 and 0.8200.
Downside risks emerge if the pair falls below 0.8010, which could trigger a test of the 100-day and 200-day SMAs at 0.7952 and 0.7927, respectively.