The USDCHF has extended above its 200-hour moving average, currently at 0.81653, making it the first of the major currency pairs to break above both the 100-hour and 200-hour moving averages in this recent correction.

Last week, the pair managed to climb above the 100-hour moving average (blue line) on both Thursday and Friday, but failed to sustain momentum toward the 200-hour MA (green line). Today’s break marks a potential shift in short-term bias in favor of buyers.

With the price now above both moving averages, momentum has tilted more positively. Traders looking for further upside may use the 100-hour MA at 0.8138 as a risk-defining support level. A closer support zone lies just below the 200-hour MA, which may act as a dynamic intraday pivot—though a few pips of flexibility is warranted.

On the topside, the next resistance targets are last week’s highs at:

• 0.82307

• 0.82399

• 0.82695

Beyond those levels, the 38.2% retracement of the April trading range comes in at 0.82809, followed by a broader retracement level: the 38.2% of the decline from the March high at 0.88547, which comes in at 0.83520.

The technicals are improving, but buyers still have work to do. Holding above the moving averages is critical to keeping the upside momentum intact and shifting sentiment further in their favor.