USDCHF Bulls Take Aim at Yearly Highs Ahead of Fed Rate Decision
The USD/CHF pair is on the rise, nearing its yearly highs after a sharp recovery from August lows. This three-week rally has kept the bullish outlook intact, but buyers are now facing significant resistance at key levels.
A breach above 8200/15 would be crucial to fuel further advance towards the 2024 swing low at 8332. Conversely, failure to clear this hurdle could leave the pair vulnerable to another pullback. The Federal Reserve's rate decision next week will likely play a significant role in determining market direction.
The technical levels indicate that losses should be limited to the monthly open at 8083, with a breach above 8215 needed to confirm uptrend resumption and fuel further gains. The focus is on Chair Warsh's commentary and any guidance on the policy path into year-end.