The USD/CHF currency pair is down nearly 0.5%, trading around 0.7930 during Monday’s European session. A look at the daily chart reveals that it remains within an ascending channel pattern, suggesting that the bullish sentiment is still in play.
Although the pair is holding above the 50-day exponential moving average (EMA) and appears to be in a generally positive phase, the 9-day EMA is constrained, which indicates a short-term consolidation rather than a clear-cut trend. The 14-day Relative Strength Index (RSI) is hovering around 54, indicating moderate positive momentum—this could mean that if prices dip, buyers may come back in, although the short-term EMA is currently acting as an indirect source of supply.
In the short term, the USD/CHF pair seems to be maintaining a bullish bias, as it stays above both the 9-period and 50-period EMAs. The shorter EMA being higher than the longer one hints at a developing uptrend. With the RSI around 60, it remains in a favorable zone without signs of being overbought, indicating that buyers are still in charge.
The pair might make a bounce back towards the 9-day EMA, currently positioned at 0.7942. If it manages to rise further, this could pave the way for testing the six-month high of 0.8042 recorded on March 31, followed by the upper limit of the ascending channel near 0.8060. A breakthrough at this level could lead to testing the year-to-date high of 0.8171 noted in August 2025.
On the downside, significant support is identified near the lower end of the ascending channel at 0.7920, with the 50-day EMA close behind at 0.7881. If the market slips below this medium-term average, it could initiate a bearish reversal, possibly exposing the three-month low of 0.7761 that was seen on May 8th.
