The USDCHF is extending to a new session high in North American trading. The move is bringing the pair closer to the falling 200-hour moving average at 0.79739, which now stands as the next key upside target. A break above that level would strengthen the bullish bias from a technical standpoint, while also offering sellers a defined area to lean against with limited risk. In short, this zone becomes a key barometer for both buyers and sellers.
Recall that last week’s price action was in the opposite direction, with the pair trending lower before finding support near the September 18 low. That support served as the base for the current corrective move higher.
Yesterday, buyers regained further control, pushing the price back above the 100-hour moving average, currently near 0.79345 (blue line on the chart below). That average has now begun to turn higher, confirming the improving short-term momentum in favor of buyers.
If the pair can clear the 200-hour moving average, attention will turn to a swing area between 0.7986 and 0.7994
