Key Technical Levels:
Support: The pair has found support near 0.8220, which has helped stabilize its recent movements .
Resistance: Immediate resistance is observed at 0.8333, with a more significant resistance zone between 0.8482 and 0.8550, aligning with the 38.2% Fibonacci retracement level from the 0.9200 to 0.8038 decline .
Trading Strategy:
Bullish Scenario: A sustained move above 0.8333 could open the path toward the 0.8482–0.8550 resistance zone.
Bearish Scenario: Failure to hold above 0.8220 may lead to a retest of the recent low at 0.8038, potentially resuming the broader downtrend.
Traders should remain vigilant for the Federal Reserve’s announcement, as it may introduce volatility and influence the USD/CHF’s direction.