USDCHF continues to trade within a well-defined range between 0.8794 and 0.8848, with price action currently consolidating just below the top of that band. Earlier today, the pair found support at the 100-hour moving average (0.8827), helping to maintain a modest bullish bias in the short term.

However, momentum now faces a critical test. The first step for buyers is to break and hold above 0.8848, the ceiling of recent ups and downs. A successful push above that would turn attention to key resistance at 0.8862, which marks the 38.2% Fibonacci retracement of the February 28 decline and also aligns with the March 14 swing high—a double-layered technical barrier.

A clean break above 0.8862 would be a bullish development, likely paving the way for further upside.

On the flip side, a move back below the 100-hour MA (0.8827) would weaken the bullish case. In that scenario, traders will shift focus to:

• 200-hour MA at 0.8816

• 200-day MA at 0.8810

• Range support at 0.8794

For now, USDCHF remains in a neutral-to-bullish stance, but the next move hinges on whether bulls can crack the 0.8848–0.8862 resistance zone or whether bears reclaim control below key moving averages.