USD/CHF prints a seven-day uptrend as it pokes the 100-DMA during the initial hour of Tuesday’s European session. In doing so, the Swiss currency (CHF) pair remains firmer around the monthly top surrounding 0.9660, marked the previous day.
The pair’s upside momentum takes clues from the bullish MACD signals and successful trading beyond the 50-DMA, at 0.9627 by the press time.
It should be noted, however, that the 100-DMA and a 10-week-old resistance line, respectively around 0.9655 and 0.9665, challenge the USD/CHF bulls.
Should the quote crosses the 0.9665 hurdle, an upward trajectory towards the 50% and 61.8% Fibonacci retracements of June-August downside, close to 0.9710 and 0.9790 in that order, appears imminent. Though, July’s peak of 0.9885 and the 0.9900 threshold could test the USD/CHF buyers afterward.
Alternatively, a convergence of the 50-DMA and the 38.2% Fibonacci retracement level, around 0.9630, restricts the short-term downside of the pair.
Following that, a one-week-old support line near 0.9585 will be crucial as a downside break of the same could quickly drag the quote towards the early-month swing low near 0.9470.
Overall, USD/CHF struggles to restore buyers’ confidence but needs validation from 0.9660.

Trend: Further upside expected
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