Forex
USD/CHF Bounces Back Above 0.8100 as Bulls Reclaim Control
The USD/CHF exchange rate has rebounded after two days of losses, rising by over 0.60% on Thursday following solid US jobs data and a bounce from the key support level at the 50-day Simple Moving Average (SMA) of 0.8052.
Buyers stepped in to defend this level, pushing the pair back above the 0.8100 threshold, which has been a key resistance area.
The Relative Strength Index (RSI) has crossed above its 50-neutral level, indicating that buyers are regaining control of the market.
With the uptrend intact and momentum on the side of the bulls, the next key resistance is at 0.8150, with a potential move towards 0.8200 if this level is breached.