USD/CHF Price Analysis: Bullish triangle confirmation signals further upside past 0.8900

USD/CHF picks up bids to prod the top line of a bullish chart formation.
Upbeat RSI, clear bounce off 0.8870 double-bottom keeps USD/CHF buyers hopeful.
Sellers need validation from 0.8880, buyers may aim for 0.8950 on confirming bullish triangle breakout.

Anil Panchal FXStreet

USD/CHF remains on the front foot around 0.8920, reversing the previous day’s losses heading into Thursday’s European session.

In doing so, the Swiss Franc (CHF) pair pierces the top line of the one-week-old descending triangle bullish chart formation.

Adding strength to the USD/CHF upside bias is the quote’s clear rebound from the stated triangle’s lower line, by forming double bottom near 0.8865, as well as the firmer but not overbought RSI (14) line.

With this, the USD/CHF pair appears well set to approach a downward-sloping resistance line from May 05, around 0.8950 by the press time.

However, the pair’s upside beyond 0.8950 may find it difficult amid the likely overbought RSI (14) line around then. Additionally challenging the USD/CHF bulls above 0.8950 is the monthly high of near 0.8995, quickly followed by the 0.9000 psychological magnet.

On the contrary, a one-week-old ascending trend line, close to 0.8880 at the latest, can act as short-term support in a case where the USD/CHF defies the latest triangle breakout by slipping back under 0.8915 level.

Even so, the stated triangle’s lower line of around 0.8865 can challenge the pair bears before directing them to the monthly low of 0.8820 and the 0.8800 round figure.

USD/CHF: Hourly chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	0.8916
Today Daily Change	0.0018
Today Daily Change %	0.20%
Today daily open	0.8898

Trends
Daily SMA20	0.8919
Daily SMA50	0.9086
Daily SMA100	0.9172
Daily SMA200	0.9421

Levels
Previous Daily High	0.8928
Previous Daily Low	0.8868
Previous Weekly High	0.8995
Previous Weekly Low	0.882
Previous Monthly High	0.9198
Previous Monthly Low	0.8852
Daily Fibonacci 38.2%	0.8891
Daily Fibonacci 61.8%	0.8905
Daily Pivot Point S1	0.8868
Daily Pivot Point S2	0.8838
Daily Pivot Point S3	0.8809
Daily Pivot Point R1	0.8927
Daily Pivot Point R2	0.8957
Daily Pivot Point R3	0.8987

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

AUD/USD bounces off multi-month low, nears 0.6900

AUD/USD edges higher toward 0.6900 in the Asian session on Wednesday, recovering some of the previous day’s losses to its lowest level since March as the US Dollar stalls the hot US CPI-inspired rally amid hopes of a US-Iran peace deal. Meanwhile, hawkish comments from FOMC members have almost confirmed another December rate hike, which favors USD bulls and should cap the Aussie.

USD/JPY remains capped below 159.00 amid looming intervention risks

USD/JPY struggles to build on the previous day’s strong gains to a near one-month top as intervention risk supports the Japanese Yen while hopes of a US-Iran peace deal cap the safe-haven US Dollar. That keeps the pair's upside limited below 159.00, for now.

Gold struggles near $4,050 as Fed rate-hike bets intensify

Gold (XAU/USD) trades with modest gains on Wednesday after falling 2.67% the previous day, in the aftermath of hotter-than-expected US consumer inflation data and hawkish remarks from Federal Reserve (Fed) officials that fueled expectations of a more aggressive interest rate-hike path.

Crypto Today: Bitcoin, Ethereum and XRP struggle to find footing amid spot ETF outflows

Cryptocurrency prices are broadly consolidating near key lower support levels on Wednesday, led by Bitcoin, hovering around $74,000. Ethereum sits above $2,000 while its upside remains structurally capped. Ripple, meanwhile, holds delicately above $1.00.

Ten questions for China in 2027

2026 has been a year of slowing growth and increasing divergence within China's economy. We saw the gap between external and domestic demand, as well as between the new economy and the old economy, widen significantly. Here, we look ahead to the key questions facing China in 2027.

What the US CPI headline doesn’t tell you about inflation

Brent crude has fallen about a third since mid-October on hopes the Iran war is ending, but diesel, freight and fertiliser costs haven't followed. Those costs reach US consumer prices in stages through 2027 and could keep inflation high after gasoline gets cheaper.