The currency pair rebounds from a two-day dip, trading above 0.8080 amid a bullish technical setup and USD strength.
The USD/CHF pair climbed nearly 0.15% to the 0.8080-0.8085 range on Thursday, recovering from a two-day losing streak. The move follows a modest uptick in the US Dollar and a breakout above the 0.8000 psychological level, reinforcing near-term bullish momentum.
Technical indicators support the upward bias, with the pair trading within an upward-sloping channel. The Relative Strength Index (14) stands at 48.7, signaling balanced momentum, while the Moving Average Convergence Divergence (MACD) remains slightly negative but does not undermine the overall constructive outlook.
Overhead resistance is seen at the channel top of 0.8219, a break above which could accelerate gains. Downside support lies near 0.7936, with a breach exposing deeper levels around 0.7692.