Higher highs since April, capped at 0.8100 after sharp pullback.
USDCHF has climbed off the late-April 0.7762 low in a broad uptrend, holding above a rising EMA(50) into July. Twin peaks near 0.8200 rejected and price cascaded to 0.8040 before recovering to the 0.8100 pivot, where bulls have repeatedly been capped; soft Swiss CPI (0.4% YoY) leaves the franc on the back foot but undervaluation is cushioning downside. Price now sits right on the 0.8100 cap with RSI back to neutral after the pullback.
Support: 0.8040, 0.8027, 0.8000
Resistance: 0.8100, 0.8207
What it said to watch
D1 close above 0.8100 pivot opens the path to the 0.8207 yearly peak
Failure to hold the 0.8027 50-day sma / 0.8000 confirms a lower low and resolves the double top lower
US NFP Friday is the dominant near-term driver for USD/CHF
USDCHF has trended up off the April low near 0.776, holding above a rising EMA(50) with a chain of higher highs into late July. Two weekly attempts at 0.820 rejected, forming a double top before a sharp drop to 0.805; price has since recovered but stalls again at the 0.8100 pivot that has capped repeatedly. Soft Swiss CPI (0.4% vs 0.7% SNB path) keeps CHF on the back foot, but 0.8100 acceptance is proving hard ahead of US NFP.
Support: 0.8039, 0.8027, 0.8000
Resistance: 0.8100, 0.8207
What it said to watch
D1 close above 0.8100 pivot opens the path to 0.8150 then the 0.8207 yearly peak
Failure to hold the 0.8027 50d sma / 0.8000 round number confirms a lower low
Friday US NFP is the main near-term driver of the USD leg