The USDCHF is struggling to gain upward momentum and is currently below the resistance level of 0.8000, which has held firm since June 30. Recent attempts to break through the swing area between 0.7986 and 0.7994 have not succeeded. On Tuesday, the highest point was only 0.79935, just shy of the 38.2% retracement level. Now, the focus is shifting toward possible declines. The pair is fluctuating around the 100-hour moving average at 0.79629, with the 200-hour moving average at 0.79458 as the next target. If the price drops below both averages, it could signal a bearish trend in the short term. The next target would then be the low of 0.7919, observed both yesterday and on July 4. On the other hand, if the price stays above the moving averages, attention will turn back to the resistance between 0.7986 and 0.7994. To shift toward a more bullish outlook, the price needs to break above this range. A move above 0.8000, along with the 38.2% retracement at 0.8002, would confirm upward momentum. Without these moves, it will be hard to see any significant upward progress. Overall, the USDCHF pair is having trouble making substantial upward gains. It keeps falling short near the defined resistance around 0.8000. Since late June, this resistance has prevented the price from rallying, with sellers stepping in each time the price approaches that area. Even when it got close to the 38.2% retracement, it couldn’t break through, peaking at 0.79935. The range between 0.7986 and 0.7994 has developed into a strong barrier that halts upward movement. The consistent rejection from this zone indicates that buyers haven’t generated enough momentum to overcome the selling pressure that appears every time they get close. Currently, the focus is shifting downwards. The pair is moving between two important levels: the 100-hour and 200-hour moving averages. These averages play a significant role, guiding price behavior in short-term markets. The 100-hour average at about 0.7963 is currently being tested. Next, the 200-hour average at 0.7946 may come into play. These levels are crucial not just because they often influence prices, but also because they can set the tone for future moves. If the price falls below both averages, it leaves little support above, opening the door for a potential test of 0.7919. This level has held strong twice this month, so it could gain significance if approached again. Typically, a move beneath the 200-hour average leads to more selling, especially when there’s no close support. If the pair cannot stay above these moving averages, traders are likely to target the 0.7919 zone again. Conversely, if buyers can hold the current levels and absorb selling pressure, focus will gradually shift upward. The real challenge lies in breaking above the 0.7986–0.7994 area. If that happens, it becomes clearer that upward momentum is building. However, the price will still need to clear 0.8000 and the nearby 38.2% retracement at 0.8002 for a sustained push higher. For short-term strategies, it’s wise to wait for confirmation in either direction. The moving averages are significant levels and tend to influence market behavior. If momentum builds below them, we can expect more defensive tactics instead of aggressive buying. Conversely, a robust push through 0.7994 would indicate that buyers are gaining strength. Until then, expect choppy movements in this narrow range.

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