The USDCHF has pushed lower, testing the July 1 low at 0.78714, with today’s price briefly dipping to 0.7874 before staging a modest rebound to 0.7885. This is a pivotal level for the pair: a sustained break below would mark a new yearly low and take the price to its lowest level since 2011—a milestone not seen in over a decade.
For buyers, the key to holding confidence is straightforward: defend 0.78714. Staying above keeps the door open for a rebound, while a decisive move below would reinforce the bearish bias and invite further downside momentum.
On the topside, regaining the July 3 low would be an initial positive sign, while a more conservative risk marker for sellers comes at the swing-area floor between 0.79104 and 0.79209. A break above that zone would likely trigger short covering and shift momentum more clearly in favor of buyers.
The video above outlines the key levels.
This article was written by Greg Michalowski at investinglive.com.