The USD/CHF breaks a rising wedge, tumbles over 0.62%, and trades near three-day lows on Wednesday. The pair clears the July 14 swing low of 0.8067. At the time of writing, the pair trades at 0.8041.
USD/CHF Price Forecast: Technical outlook
The USD/CHF trend is upward, but the trendline break during the day has opened the door to challenge the March 31 daily high-turned-support at 0.8042.
Momentum, as measured by the Relative Strength Index (RSI), is about to turn bearish, sitting at a 50.50 reading at the brink of clearing the neutral level. This suggests that buyers had lost momentum over the last 14 trading sessions, opening the door to a challenge of key support levels.
If USD/CHF ends the day below 0.8100, this clears the path to challenge 0.8042. Below this level is the 0.8000 psychological level. Once those two levels are taken out, the next key support would be the 50-day Simple Moving Average (SMA) at 0.7961, followed by the 200-day SMA at 0.7918.
On the other hand, a bullish resumption could pave the way to test the August 1, 2025 peak at 0.8171, followed by the June 4, 2025 high of 0.8250.
USD/CHF Price Chart — Daily
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