USD/CHF Rally Hits Resistance
The USD/CHF pair's recent rally has reached a turning point. After breaking through the resistance level of 0.8205 last week, it lost momentum at 0.8262. As a result, the initial bias this week is neutral, with a focus on consolidation.
According to technical analysis, the downside should be contained above the 0.8156 resistance turned support level. On the other hand, if the pair breaks through 0.8262, it will target the 100% projection of the move from 0.7760 to 0.8205 at 0.8393.
In the bigger picture, the rise from 0.7603 is seen as a reversal of the medium-term trend. The focus is now on the 0.8332 support turned resistance level (2023 low) for confirmation. A firm break there will target the 61.8% retracement of the move from 0.9200 (2025 high) to 0.7603 at 0.8590.