21:05 UTC
Uptrend, momentum cooling after rejection · RSI 65 · price 0.83132
Higher-low chain from the August low; breakout above the July high now being retested.
USDCHF has been in an uptrend since the mid-August low near 0.7950, printing higher lows at the 0.8052 sept low and last week's 0.8227 swing low. It broke above the July high at 0.8207 in mid-September and remains above a rising EMA(50). Last week's push to the 0.8382 16-month high was rejected as soft US payrolls cut Fed hike bets, but the pullback held just above the 38.2% retracement and the rising trendline, and price is now back at the 0.8325 pivot.
Support: 0.8227, 0.8207, 0.8052
Resistance: 0.8325, 0.8382
What it said to watch
- Daily close above the 0.8325 pivot reopens a test of the 0.8382 16m high
- Close below the 0.8227 swing low and the rising trendline breaks the higher-low chain, exposing the july high at 0.8207
- A loss of the 0.8052 sept low would void the uptrend read
- FOMC Minutes (Wed 18:00 UTC), plus Thursday jobless claims and Waller/Musalem remarks, could materially shift Fed pricing and this read