Stronger US yields and firmer oil prices lift the pair above key retracement levels, testing long-term resistance near 0.79072.
The USDCHF advanced toward its 200-day moving average at 0.79072, supported by higher US yields following a stronger-than-expected ADP employment report. The pair broke above a topside trendline at 0.7893 and the 50% retracement level of its April-May decline at 0.79014 during the North American session.
Earlier, buyers held support near the 38.2% retracement at 0.7868, reinforcing upward momentum. The 200-day MA and a May swing high near 0.79072 now act as critical resistance, with sellers defending the zone. A sustained break above could target the April high at 0.7923.
Failure to hold above the 200-day MA and a retreat below 0.7893 would weaken the bullish case, signaling potential downside pressure.