USD/CHF breaks above 50% retracement, tests 0.8020 resistance zone

USD/CHF surged higher today, breaking above the critical 50% retracement level at 0.79992 from the August 1 high. This technical breakthrough triggered additional buying pressure, pushing the pair toward the 0.8017-0.80223 resistance zone. The move represents a significant shift in momentum after the pair had been consolidating below this key fibonacci level for several sessions. However, buyers encountered strong selling interest at the resistance zone, causing momentum to stall and suggesting potential profit-taking at these levels. The successful break above 0.79992 establishes this level as new support, while the 0.8017-0.80223 zone remains the immediate hurdle for further upside. Traders are closely watching whether buyers can maintain momentum above the 50% retracement or if sellers will defend the resistance zone, potentially leading to a pullback toward 0.7999 support.