The currency pair gains 0.30% to 0.8138, with bulls targeting 0.8200 if key technical levels are cleared.
The USD/CHF pair climbed 0.30% to 0.8138 on Wednesday, marking its highest level in ten days. The move extends an uptrend supported by successive higher highs and lows, though a bearish flag pattern suggests a potential pullback before further gains.
Technical indicators remain bullish, with the Relative Strength Index (RSI) signaling upward momentum. A break below the 50-day Simple Moving Average at 0.8071 could trigger a retracement toward 0.8042 or 0.8000. Conversely, clearing the bearish flag’s top trendline may pave the way for a rally to 0.8200 and beyond.
If resistance at 0.8205 is breached, buyers may target psychological levels of 0.8250 and 0.8300. The Swiss Franc showed mixed performance against major currencies, strengthening notably against the New Zealand Dollar.