The USDCHF found solid support yesterday at a key swing area near 0.81931 to 0.82120, a zone that had previously acted as a launchpad during the early May rally. Buyers leaned against that level yesterday, halting the recent downside momentum and triggering a bounce.
Today, the pair is moving modestly higher and is now testing a higher resistance zone — the swing area between 0.8272 and 0.82803. This level has been a recurring pivot in recent weeks (see red circles), with both buyers and sellers using it as a battleground. A break above this area would open the door toward the 100-hour MA (blue line currently near 0.8308) and the 38.2% retracement level of the May range at 0.83087.
Staying below 0.82803 keeps the near-term bias more neutral-to-bearish, especially as the price remains under the 100 hour MA, the 38.2% retracement and the downward sloping trendline. Conversely, a break above the current resistance zone could shift momentum further in favor of the bulls but with those targets looming above.
Key levels to watch:
Support: 0.8257(50% retracement). 0.8193 to 0.8212 (swing area)
Resistance: 0.8272–0.82803 (current test), 0.8308 (100 hour MA, and 38.2% Fib), 0.83509 (200-hour MA)
The pair is at a pivotal juncture — the response at current levels will help define the next directional bias.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdchf bounces from key support and tests overhead resistance was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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