USDCHF buyers are in control. What is needed in the ST to control the sellers

The USD/CHF reached its highest level since July this week but failed to break the main resistance area on the daily chart, which is located between 0.8986 and 0.90178. This area remains an essential target at the top, and a break above it would open the door for further upside movement. Buyers will be watching this level closely in the coming sessions.

On the downside, sellers face immediate challenges, with two nearby support levels that need to be breached to move the statement. The first is a swing area between 0.8914 and 0.8923. If the price falls below this area, the next critical level is the 61.8% of the 2024 trading area at 0.88989. However, as long as the price remains above that support, buyers maintain full control of the market.

If sellers manage to push the price below the 61.8% level, attention will turn to the 200-day moving average at 0.88254 and the 50% level at 0.87986. For now, buyers have the upper hand, but sellers need to prove they can break through these important support levels to regain control.

Technical Analysis: USD/CHF

Resistance Levels:
- Main Resistance Zone: 0.8986 – 0.90178 (Daily chart).
  - A break above this zone would signal an upside trend.
  - A sustained upward movement opens the door for continuous support control.
Support levels:
- Swing Zone: 0.8914 – 0.8923.
  - The first downside target for sellers; a break below undermines short-term bullish momentum.
- Key Fibonacci levels: 61.8% of the 2024 sectors at 0.88989.
  - Emergency assistance; failure to break below determines customer dominance.
- Additional targets below:
  - 200-day moving average (MA): 0.88254.
  - 50% withdrawal rate: 0.87986.
  - These levels will be relevant if sellers break lower support.
Current market trends:
- Buyers will be in full control as long as the price remains above the 61.8% level.
- Sellers need a sustained move below 0.88989 to signal a shift in momentum and target deeper levels.
Main focus:
- Look for a breakout above the 0.8986 – 0.90178 zone for bullish confirmation.
- Monitor support levels for signs of seller strength or continued holding.