The pair extends gains toward 0.8084-0.8104 resistance after the Fed’s hawkish policy shift bolstered demand for the dollar.
USDCHF climbed to 0.8103 today, testing a critical resistance area between 0.8084 and 0.8104. The move follows last week’s rebound from support near 0.7908, where the 100-bar moving average, 200-day moving average, and 50% retracement level converged.
The rally gained momentum after the Federal Reserve’s hawkish policy decision on Wednesday, pushing the pair past intermediate resistance at 0.8009-0.8017. Buyers re-entered near the 61.8% retracement at 0.79805, driving the pair higher despite brief pullbacks.
Sellers must break below 0.8084 and the 100-hour moving average at 0.8048 to shift momentum. Until then, the bias remains upward, with buyers maintaining control.