USD/CHF retakes 0.8100 as bullish setup eyes YTD high
The USD/CHF pair attracted dip-buyers on Wednesday, climbing back above 0.8100 and moving away from the weekly low near 0.8060 as the bullish setup targets the year-to-date high set on Tuesday.
The USD/CHF pair regained the 0.8100 level on Wednesday, supported by dip-buying after the earlier pullback. The pair lifted off the weekly trough around 0.8060, extending its recovery from that zone.
Traders now eye the year-to-date peak reached on Tuesday, with the current bullish momentum suggesting further upside potential. The move reflects renewed demand for the US dollar against the Swiss franc amid a constructive technical setup.
No additional catalyst has been cited, and the near-term direction remains tilted to the upside as long as the pair holds above the 0.8060 support area.
Source: FXStreet Forex News