USD/CHF Bulls Eye 0.8150 as Pair Holds Above 50-Day SMA

The USD/CHF pair is maintaining its mildly bullish bias as it holds above the 50-day Simple Moving Average (SMA). The price action has stabilized above this average following a sharp pullback from around 0.8200 in late July.

At the time of writing, the pair trades around 0.8113, extending gains for a second consecutive day. This comes ahead of Wednesday's US Consumer Price Index (CPI) data release.

The USD/CHF is trading with a positive bias as the US Dollar consolidates its recent gains. The US Dollar Index (DXY), which tracks the Greenback's value against a basket of six major currencies, hovers around 99.85 following repeated rebounds from 99.50 in recent days.