• USD/CHF could test the 0.8000 barrier, situated near the ascending channel's upper boundary at 0.8030.
• The 14-day Relative Strength Index at 65 confirms strong bullish momentum.
• The primary support lies at the nine-day EMA of 0.7948.

USD/CHF halts its four-day winning streak, trading around 0.7990 during the European hours on Thursday. The technical analysis of the daily chart indicates the pair is moving upwards within the ascending channel pattern, signaling a persistent bullish bias.

The USD/CHF pair is extending a constructive recovery above both the nine-day and 50-day Exponential Moving Averages, which now underpin the near-term bullish bias. The 14-day Relative Strength Index (RSI) hovers around 65, suggesting firm upside momentum but also hinting that the advance is entering a near-overbought zone as price approaches nearby chart barriers.

The USD/CHF pair may target the upper boundary of the ascending channel around 0.8030, followed by the six-month high of 0.8042, recorded on March 31. A break above this confluence resistance zone would strengthen the bullish bias and lead the pair to explore the region around nearly a yearly high of 0.8171, reached in August 2025.

On the downside, the initial support lies at the nine-day EMA of 0.7948, followed by the lower boundary of the ascending channel around 0.7900, followed by the 50-day EMA at 0.7877. Further declines would expose the three-month low of 0.7761, which was recorded on May 8.

(The technical analysis of this story was written with the help of an AI tool.)