USD/CHF Price Forecast: Bulls retake control, eye 0.8300 break
The USD/CHF pair climbs some 0.52% on Wednesday as the uptrend resumes following a retracement after hitting a yearly high on September 16 at 0.8263, which dragged the exchange rate below 0.8200, before recovering some ground. At the time of writing, the pair trades at 0.8244.
USD/CHF price climbs, bulls reclaim control with eye on 0.8300 break. The uptrend resumes after a retracement from a yearly high on September 16, where the exchange rate dipped below 0.8200 before recovering. The pair is currently trading at 0.8244, driven by the US Dollar's rise due to Federal Reserve (Fed) rate hike expectations.
Bullish momentum is reinforced by the Relative Strength Index (RSI) and price action forming higher highs and higher lows. If USD/CHF breaks above the previous year-to-date high, it could test 0.8300, potentially reaching the May 29, 2025, high of 0.8347 before testing 0.8400. On the downside, a retreat to 0.8200 could trigger a breakout, sending USD/CHF to 0.8183, the Tuesday low, with psychological support levels at 0.8150 and 0.8100.
Swiss Franc was the strongest against the Australian Dollar today, showing the most significant percentage change.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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