USD/CHF is trading with a downward bias after a rejection from its .8150 year-to-date high, according to a Continuum Economics technical note. The pair has fallen back to strong support at .8040, defined by the January and March highs.
Pressure sits on the downside for USD/CHF after the pair was rejected from the .8150 current-year high and slid back toward strong support at .8040, the January and March highs. A break beneath that level would expose the .8010 low from 2 July to a retest.
Only a move through .8010 would open room for a deeper pullback within the bullish channel running up from the January year low. Lower down, the next levels sit at .7950 congestion and the .7910 low from 17 June.
On the upside, resistance at the .8100 congestion should cap a corrective bounce. Only a push above .8100 and the .8150 high would extend gains and retrace the losses from the January 2025 year high. The bias stays lower for now, a read that shapes how traders approach the USD/CHF pair.
Source: Continuum Economics (snippet-based)
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