USDCHF Bullish Setup Forms Near 0.8200

The US dollar's bullish outlook was discussed in a recent webinar by Wavetraders. According to Gregor Horvat, the Fed's rate hike on September 9 led to higher US yields, which has made the US dollar more attractive. The Swiss National Bank's stance on not being as hawkish as other major central banks also favors the US dollar.

The USDCHF currency pair was specifically highlighted in the webinar. Horvat mentioned that the Swiss National Bank is willing to intervene if the Swiss franc strengthens too much, which keeps traders cautious on CHF. On the other hand, the Fed's indication of potential further rate hikes makes the US dollar a good bet.

The 0.8200 area was identified as a key level in the webinar. This level had previously been broken and then pulled back to, forming a bullish setup according to Elliott Wave analysis. The recovery from the lows is impulsive, while the pullback into 0.8200 was corrective, suggesting that the broader bullish trend could resume.