USDCHF tests key resistance after buyers defend moving average support
The USDCHF pushed higher during the Asian-Pacific session but once again ran into resistance near last week’s high at 0.8107. The failure to break above that level with conviction invited sellers back into the market, shifting the focus to support.
That support came from the rising 100-hour moving average, currently at 0.80755. Buyers stepped in almost precisely at that level, with the session low reaching 0.8076 before the pair rebounded. The recovery extended into the early North American session, lifting the price to 0.81037. The pair is currently trading near 0.8097, just below the key resistance.
From a technical perspective, the path higher remains straightforward. Buyers need to clear 0.8107 and then push above the nearby swing high. A sustained move through those levels would target the July 1 high at 0.8119, followed by the June 24 high at 0.81389. That June high marked the strongest level for the pair since July 2025. A break above 0.81389 would strengthen the bullish case and open the door for a move toward 0.8200, with 0.82148 the next upside target (not shown on the chart).
On the downside, the market has already shown that sellers are willing to defend 0.8107, and there’s no reason to believe they won’t do so again. If that resistance continues to hold, a rotation back toward the key moving averages is likely. Initial support comes at the 100-hour moving average (0.80755), followed by the 200-hour moving average (0.8065).
The technical picture is well defined to start the new trading week: buyers are defending support, sellers are protecting resistance, and the next directional move will likely be determined by which side gives way first.
This article was written by fl932d6e52a19643278e0f123bca7198f5 at investinglive.com.