The currency pair gains 0.21% as technical momentum and US-Iran talks uncertainty support the Greenback’s recovery.
The USD/CHF pair advanced 0.21% to 0.7884, rebounding from daily lows of 0.7844 as buyers target the 0.7900 mark. Positive risk sentiment driven by AI optimism and a modest US Dollar recovery amid geopolitical uncertainty contributed to the move.
Technically, the pair cleared its 50-day Simple Moving Average at 0.7864, with a bullish Relative Strength Index suggesting potential for further upside. A break above 0.7900 could pave the way for a test of the 200-day SMA at 0.7904, followed by the March 19 high of 0.7958.
Conversely, a drop below the 50-day SMA may attract sellers, pushing the pair toward the 20-day SMA at 0.7834 or the 100-day SMA at 0.7828, with 0.7800 as the next support level.