Topside trend line
The USDCHF tumbled below the support floor area between 0.9060 and 0.90684 off the initial headlines from Fed’s Powell. That move failed however and sellers turned buyers.
The run back to the upside – helped by rising yields – has pushed the pair back toward the highs for the week. Those highs come between 0.9120 and 0.9127. Also cutting across that area is a downward sloping trendline connecting the August 12 to the August 20 high prices near 0.9127. It will take a break above that level to increase the bias and tilt more to the upside.