USD/CHF Stalls at 100-Hour Moving Average as Bulls Test Key Levels
The USD/CHF pair extended higher in U.S. morning trade, touching a fresh session peak before fading at the descending 100-hour moving average near 0.7960. Sellers defended the first retest of this line since the early-November breakdown, pushing the pair back by roughly five pips and leaving the near-term trend at a pivotal juncture.
For buyers to regain control, the dollar-franc will need to break and hold above the 100-hour moving average, with further validation coming on a push beyond 0.79715—the 38.2% Fibonacci retracement of the decline from November’s high. A clean topside break could shift intraday momentum, inviting follow-through buying and short covering.
If resistance holds, initial support is seen around 0.7941. A move below that level would refocus attention on a well-watched swing zone at 0.79237–0.79283, an area where dip buyers previously emerged. A failure there would keep the broader bearish bias intact and leave the pair vulnerable to fresh lows.
Key Points – USD/CHF hit a session high before pulling back from the falling 100-hour moving average near 0.7960 – First upside trigger: sustained move above the 100-hour MA – Additional confirmation: break above 0.79715, the 38.2% retracement of the November decline – Initial support sits near 0.7941 on pullbacks – Next downside zone: 0.79237–0.79283, a prior swing-area support – Price action around these levels will likely set the intraday trend for the forex pair
