The USD/CHF currency pair rebounded sharply on Thursday, snapping a two-day losing streak and climbing by over 0.60% following the release of robust US jobs data [1]. This upward movement was supported by buyers stepping in at the 50-day Simple Moving Average (SMA) of 0.8052, which acted as a key support level and propelled the pair back above the 0.8100 threshold [1].
From a technical perspective, the USD/CHF uptrend remains intact, with the market structure continuing to show higher highs and higher lows. Momentum indicators, such as the Relative Strength Index (RSI), confirm that buyers are in control, as the RSI has crossed above its neutral 50 level [1]. The pair now faces resistance at 0.8150, with further upside potential towards 0.8200 and the yearly high of 0.8207. If these levels are breached, the rally could extend towards the June 4, 2025, cycle high at 0.8250, and subsequently to 0.8300 [1].
On the downside, immediate support is seen at 0.8100, with the 50-day SMA at 0.8052 and the 0.8000 mark serving as subsequent support levels if the price declines [1].
A heat map of major currencies shows that the Swiss Franc was the strongest against the Japanese Yen today, while it weakened by 0.69% against the US Dollar, reflecting the USD/CHF pair's notable strength [1].
No analyst opinions or forward-looking statements beyond the technical outlook were provided in the source article.
CONCLUSION
USD/CHF's rebound above 0.8100, driven by strong US jobs data and technical buying, signals renewed bullish momentum. Key resistance levels lie ahead, with the uptrend supported by positive momentum indicators. The market's reaction suggests medium impact, with further gains possible if resistance levels are breached.