USD/CHF Range-Bound as Bullish Bias Hinges on 0.8029 Support

USD/CHF remains confined to a range, leaving the near-term outlook neutral. However, the bias leans bullish provided the 0.8029 support level holds. A decisive move above 0.8150 would open the door to the 100% projection target at 0.8198, derived from the 0.7603 to 0.8041 rally projected from 0.7600. Conversely, a firm break below 0.8029 would shift the bias bearish, exposing the 0.7909 support level and potentially lower.

From a broader perspective, although a medium-term bottom appears established at 0.7603, declaring a bullish trend reversal remains premature. As long as the 38.2% Fibonacci retracement of the 2025 high (0.9200) to the 0.7603 low—located at 0.8213—caps advances, the overarching downtrend could eventually resume, potentially breaking below 0.7603. A sustained break above 0.7603, however, would signal a trend reversal, shifting attention to the 0.8332 level—former support from the 2023 low now acting as resistance—for confirmation.

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