Daily Market Analysis By FXOpen

Technical Analysis of USD/CHF: Rate Reaches Key Resistance Level
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As seen on the USD/CHF chart, the pair has been moving within a descending channel (highlighted in red) since May.

In September, price action confirmed that the 0.84000 level, near the lower channel boundary, serves as strong support—after several unsuccessful attempts to break below it, the pair rebounded from point A to point B, rising by over 3% to the current level around 0.86750.

The U.S. dollar’s recent strength has been supported by:

→ Expectations of a Trump victory in the upcoming presidential election,
→ Rising yields on long-term U.S. Treasury bonds.
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