The USD/CHF pair is trading in a tight range and shows little clear direction as it consolidates below the important 0.8245-0.8250 resistance zone.
Despite some buying interest in the US Dollar, renewed demand for safe-haven assets limits upward momentum.
On hourly charts, an ascending triangle pattern is forming, supported by a rising trend line from mid-0.8100s and the strong horizontal resistance near 0.8245-0.8250.
This pattern suggests potential for further gains, but traders should wait for a clear breakout above this barrier before expecting a sustained rally.
If the pair breaks above 0.8250, it may face intermediate resistance near 0.8275 before targeting the 0.8300 round number. Beyond that, the next key resistance lies around 0.8325-0.8330.
Continued buying could confirm a near-term bottom and open the path for further upside.
On the downside, support sits just above 0.8200 along the ascending trend line. A break below this level, especially under the monthly low near 0.8155, could trigger bearish momentum.
In that case, USD/CHF might fall toward the 0.8100 mark and potentially test the April low near 0.8040, the lowest since September 2011.
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