Watching that old floor which is not a ceiling for the USDCHF | Forexlive

The USDCHF moved higher yesterday, reaching its highest level since April 10 with a peak at 0.8310. However, bullish momentum stalled just 23 pips short of a key resistance area—an old weekly chart floor that now acts as a ceiling. This level has become a critical barometer for short-, medium-, and long-term bias. Staying below it keeps sellers in firm control.

Today, the pair has rotated lower, finding support near a swing area between 0.8230 and 0.82399 (effectively 0.8240), with a session low of 0.8239. Holding above that zone keeps buyers in the game.

In short, there’s a tactical balance: support has held near 0.8240, favoring buyers in the near term, while the key resistance starting at 0.8333 up to 0.8373 continues to cap upside, reinforcing seller control unless broken.