USD/CHF Nears 0.8200 as Shooting Star Looms

The USD/CHF has extended its gains for the seventh consecutive trading session, rising by a minimal 0.05% to reach a one-month high of 0.8195.

Although the pair narrowly missed breaking through the 0.8200 barrier, analysts believe it may still re-test this figure if bullish momentum resumes.

The Relative Strength Index (RSI) indicates strong bullish momentum, but a looming shooting star formation could trigger a short-term pullback in the USD/CHF.

For now, the overall trend remains up, with potential support areas at 0.8169 and 0.8124, followed by the 50-day SMA at 0.8098.