Chartbook: Chart USD/CHF: Extending 2026 gains - CHF sentiment a driver

Anticipated gains reached 0.8200 on 29 July, before settling lower into choppy trade above 0.8000.

A fresh push higher is developing, with rising monthly stochastics and the positive monthly Tension Indicator highlighting room for continuation of gains from the 0.7600 current year low of 28 January towards the 0.8400 Fibonacci retracement. Beyond here is strong resistance at the 0.8500 multi-year break level and the 0.8600 retracement. However, monthly stochastics are already flat in overbought areas, suggesting any immediate tests of this range could give way to consolidation.

Longer-term charts show broad resistance within the 0.8500 - 0.8900 congestion range.

But improving longer-term studies point to room for a later break, (following range trade), and continuation of January gains in the coming quarters towards the 0.9300 multi-year Fibonacci retracement.

Meanwhile, support is at the 0.8000 break level and extends to range lows around 0.7900.

Rising weekly stochastics and the positive weekly Tension Indicator should limit any pullbacks in renewed buying interest towards here.

However, a close below 0.7900, if seen, will add weight to sentiment and extend losses towards the 0.7750 break level.

Broader CHF sentiment is also deteriorating,

as prices weaken steadily from the January 2026 multi-year high.

A period of multi-month CHF weakness is developing, helping to keep USD/CHF sentiment buoyant into the coming months.