USDCHF tests yearly highs as bulls eye a breakout

USDCHF presses against key resistance near multi-month highs. Can bulls finally clear 0.8150 and target 0.8200, or is a pullback on the cards?
XM Group | 49 days ago

Overview: USDCHF is trading around the 0.8150 mark, pressing against a major multi-month resistance zone. The broader bullish structure remains intact, supported by the rising 20-day and 50-day EMAs, and technical indicators.

Momentum: The RSI and the MACD hold in positive territory, supporting the prevailing higher-highs structure and a potential breakout.

Bullish scenario: A break above current levels could trigger a fresh leg higher towards the psychological 0.8200 level. Further strength may then expose 0.8250.

Risk: A break below the 20-period EMA near 0.8120 would weaken the immediate bullish outlook.

XM Group
Type: Market Maker
Regulation: FSA (Seychelles), FSC (British Virgin Islands), CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa), FSC (Mauritius), CMA (Kenya)
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