USD/CHF eyes key 0.8400 resistance

Zorrays Junaid Alchemy Markets

USD/CHF continues to grind higher, with the technical picture pointing to 0.8400 as the next major resistance level.

That area is significant for more than one reason. It coincides with the 127.2% Fibonacci extension of the recent recovery leg and also aligns closely with the 50% Fibonacci retracement of the broader decline from the January 2025 high to the January 2026 low. With two key Fibonacci levels converging in the same region, 0.8400 becomes an important technical hurdle.

The move also fits the improving fundamental backdrop for the pair. Reports suggesting the Swiss National Bank could keep rates at 0.00% through 2027 reinforce the case for a softer Swiss franc, while higher US yields continue to underpin the US dollar.

A sustained break above 0.8400 would strengthen the bullish outlook and could open the door to a move towards the 161.8% Fibonacci extension near 0.8500. Until then, traders should watch how price reacts at this confluence zone, where profit-taking and fresh selling interest may emerge.

Author

Zorrays Junaid

Alchemy Markets

Zorrays Junaid has extensive combined experience in the financial markets as a portfolio manager and trading coach. More recently, he is an Analyst with Alchemy Markets, and has contributed to DailyFX and Elliott Wave Forecast in the past.

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