USD/CHF confirms inverted head-and-shoulders, targets 0.80

USD/CHF rose approximately 0.30% on Monday, with technical analysts noting the confirmation of an inverted head-and-shoulders pattern. The pair's price action has also cleared the 200-day Simple Moving Average (SMA), which now sits below the current spot price.

Classic chart pattern analysis suggests the inverted head-and-shoulders formation could propel the pair toward the 0.80 level. The pattern's neckline break and the supportive position of the 200-day SMA add to the bullish technical outlook for the Swiss franc pair.