FundamentalOverviewThe USD regained someground in the final part of last week and extended the gains yesterday althoughwe haven’t got any meaningful catalyst for the move. Overall, we continue torange as the market is waiting for something new for the next sustained trend. Given that the “short USdollar” is now the most crowded trade, such quick unwinding moves are natural, andit will take something meaningful to lead the market to expect more rate cutsthan currently priced in and weaken the greenback further.On the CHF side, the SNB hasnow likely finished its easing cycle as they got back to zero interest ratespolicy. We will likely need a series of downside surprises in the inflationdata to force them to go into negative territory at the December meeting. Themarket doesn’t expect the SNB to cut anymore.USDCHFTechnical Analysis – Daily TimeframeOn the daily chart, we cansee that USDCHF has pulled back into the key resistancearound the 0.8050 level where we can also find the major trendlinefor confluence.This is where we can expect the sellers to step in with a defined risk above theresistance to position for a drop into new lows. The buyers, on the other hand,will look for a break higher to start targeting the 0.85 handle next.USDCHF TechnicalAnalysis – 4 hour TimeframeOn the 4 hour chart, we cansee that we have a minor upward trendline defining the bullish momentum. If weget a pullback from the resistance, the buyers will likely lean on thetrendline with a defined risk below it to keep targeting a breakout. Thesellers, on the other hand, will look for a break lower to increase the bearishbets into new lows.USDCHF TechnicalAnalysis – 1 hour TimeframeOn the 1 hour chart, we cansee that we have another minor upward trendline defining the bullish momentumon this timeframe. The buyers continue to lean on it to keep pushing into newhighs, while the sellers will need a break lower to target a deeper pullbackinto the next trendline. The red lines define the average daily range for today.UpcomingCatalystsToday we have the US Job Openings andConsumer Confidence data. Tomorrow, we have the US ADP, the US Q2 GDP and theFOMC rate decision. On Thursday, we get the US PCE price index, the US JoblessClaims and the US Employment Cost Index. Finally, on Friday, we conclude theweek with the US NFP report and the US ISM Manufacturing PMI. This article was written by Giuseppe Dellamotta at investinglive.com.