The USDCHF buyers are in control.What is needed in the ST to give the sellers some control | Forexlive

The USD/CHF reached its highest level since July this week but fell short of the key resistance zone on the daily chart, located between 0.8986 and 0.90178. This area remains a critical topside target, and a break above it would open the door for further upside momentum. Buyers will be eyeing this level closely in the coming sessions.

On the downside, sellers face immediate challenges, with two nearby support levels that must be breached to shift the narrative. The first is a swing zone between 0.8914 and 0.8923. If the price falls below this area, the next critical level is the 61.8% retracement of the 2024 trading range at 0.88989. However, as long as the price remains above these supports, buyers retain full control of the market.

If sellers manage to push the price below the 61.8% retracement level, attention will turn to the 200-day moving average at 0.88254 and the 50% retracement level at 0.87986. For now, buyers hold the upper hand, but sellers must prove they can overcome these significant support levels to regain control.