The USDCHF continued to respect key technical levels in early Tuesday trading, as the pair once again found support at the 0.8193–0.8212 swing area. The zone, which had provided a base earlier this month (and into the end of April), attracted buyers again after a brief dip below it during the Asian session quickly reversed—similar to the price action seen on May 7.
Momentum carried the pair higher through the 100-hour moving average (MA) at 0.8239, a level that had capped upside just last Thursday. The move above now turns that MA into a near-term risk level for bullish traders. Staying above keeps the buyers in play. Moving below would be more bearish technically.
Looking ahead, the key resistance area comes in between 0.8272–0.8280 (see red numbered circles)