CHF: Any test should meet a strong defensive response
|$CHF – Technical Outlook Good upside momentum yesterday and follow‑through today has pushed the market firmly higher, with price already challenging a key confluence zone where the 55‑day MA and the 50% Fibonacci retracement meet at 0.7822/25. We are currently trading above the Daily Pivot (0.7758). A pullback toward the DP during the session would be natural, especially if early buyers take profits into the 0.7822/25 resistance area. That profit‑taking could attract short‑term sellers looking for a rotation back toward the pivot. If, however, buyers defend dips and decide the market has more room to run — and the technical structure supports continuation — then upside targets come in at 0.7843 and 0.7895. On the downside, I expect buyers to be waiting at the DP at 0.7758. This support is unlikely to give way easily, and any test should meet a strong defensive response.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.