The USDCHF extended its move higher today, breaking above the 50% retracement of the decline from the August 1 high. That midpoint, coming in at 0.79992 (essentially 0.8000), has been a key technical marker on the chart. Once buyers were able to push above it, the door opened for further gains, and the market responded by driving the pair toward the bottom of a swing resistance zone between 0.8017 and 0.80223.
However, the momentum at those higher levels quickly stalled. Buyers couldn’t generate the follow-through needed to sustain a push into that resistance zone, and the pair rotated back lower. The pullback took the price back under the 0.8000 line, but importantly, support held near 0.7994, which had been both the prior weekly high and the top of a previous swing area. Holding that level kept buyers in control and prevented sellers from seizing momentum.
At this stage, the technical picture remains constructive for the upside, but the pair is at a critical inflection point. The ability of buyers to regroup and defend the 0.7994 level will be crucial. A sustained move below that level would undermine the bullish bias and likely invite deeper corrective pressure. On the other hand, holding above it keeps the bullish case alive, and a rotation back to the upside would bring 0.8017–0.8022 back into focus as the next hurdle. Beyond that, further topside targets could be explored if momentum re-emerges.
For traders, the setup is straightforward: 0.7994 is the line in the sand
