USD/CHF Price Forecast: Bullish piercing pattern surfaces, sights on 0.7900

The USD/CHF pair forms a ‘bullish piercing’ chart pattern on Monday, which confirms further upside, but it faces key resistance at the 50-day Simple Moving Average (SMA) at 0.7868. At the time of writing, the pair is trading with a 0.70% gain, around 0.7860.