The pair traded within a range after the prior bullish breakout extended further and brought the market back to the top of the recent recovery structure. On H1, USD/CHF remains one of the strongest setups in the group, with buyers continuing to defend pullbacks and keep the pair above the breakout base. The daily picture is bullish, although price is already trading in the upper part of the current range, which means continuation now requires sustained momentum rather than only short-covering.
For the full trading day, the main issue is whether the pair can consolidate near the highs and push higher again, or whether overextension will trigger a deeper corrective pullback. As long as price stays above the pivot zone, dips are likely to remain limited.
Current price: 0.78695
Pivot: 0.78590
Nearest support levels: S1: 0.78480, S2: 0.78320, S3: 0.78120
Nearest resistance levels: R1: 0.78780, R2: 0.78920, R3: 0.79100
Note:
Above Pivot: If the pair holds above 0.78590, buyers may continue the advance toward 0.78780 and 0.78920. If bullish momentum remains firm through the day, the next target may come at 0.79100.
Below Pivot: If the pair falls back below 0.78590, the rebound may cool into a broader correction toward 0.78480 and 0.78320. A deeper pullback may then expose 0.78120.
