Swiss Franc Technical Outlook

The USDCHF is approaching the top of a congestion area from earlier in the year. The area should provide some resistance to additional gains.

The top of this area is roughly 100 pips above today’s high (so far). Near term, coming under 1.0911 would make it likely that at least a short term top is in place and that a larger USDCHF decline is underway (back to at least 1.0742).