USD/CHF Bulls Face Major Hurdle at Yearly Highs Ahead of Fed Decision

The USD/CHF currency pair has been on an upward trend for three weeks now, recovering nearly 2.8% from its August low.

As it approaches a key resistance zone near the yearly highs, bulls will need to demonstrate sustained buying power to extend the advance.

A breach above this threshold would be a significant milestone, strengthening the case for another major leg higher, while failure to clear resistance would leave the pair vulnerable to a pullback.

The upcoming Federal Reserve rate decision next week is expected to have a significant impact on market sentiment, with expectations of additional tightening continuing to build.