The currency pair gains 0.70% as technical indicators signal potential upside toward 0.7900 and beyond.
The USD/CHF pair climbed 0.70% to around 0.7860 on Monday, supported by a bullish piercing chart pattern. The move confirms upward momentum, though resistance at the 50-day Simple Moving Average (SMA) at 0.7868 remains a hurdle.
The pair cleared its 100-day SMA at 0.7834, with the Relative Strength Index (RSI) turning bullish. Analysts see 0.7900 as the next target, followed by 0.8000 and the April 6 high of 0.8018. Downside risks include a drop below the 100-day SMA, exposing 0.7800 and lower support levels.
The Swiss Franc showed mixed performance against major currencies, strengthening notably against the New Zealand Dollar.