The USD/CHF spiked higher following the CPI data, reaching an upside target near 0.9152 before fluctuating during Fed Chair comments. The subsequent pullback found support at a key swing area low of 0.9128, reinforcing the significance of this level.

Holding above 0.9128 keeps the short-term bias bullish, with buyers maintaining control. A break below, however, could trigger additional downside momentum, with the 100-hour moving average at 0.9102 emerging as the next key support target.

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Source: Forex Live