The USD/CHF reversed course, rising by over 0.40% late Thursday as the Greenback staged a recovery amid overall risk aversion, heightened tensions in the Middle East, and strong US economic data. The pair trades at 0.8088 after bouncing off daily lows of 0.8045.
USD/CHF price forecast: Technical outlook
The USD/CHF made a U-turn after testing the March 31 high-turned-support at 0.8042, exacerbating a move toward 0.8100.
Momentum as measured by the Relative Strength Index (RSI) indicates that bulls are gathering some steam after taking a breather on Wednesday, as the index briefly touched the 50-neutral level. Since then, the RSI’s aim has been toward the 60 level, an indication that the uptrend might continue.
If USD/CHF climbs above 0.8100, this opens the door to test the August 1, 2025 daily peak at 0.8171, and then the June 4, 2025 high at 0.8250. Conversely, a drop below 0.8100 opens the door to test the psychological 0.8000 level. Below this area lies the 50-day Simple Moving Average (SMA) at 0.7967, followed by the 200-day SMA at 0.7919.
USD/CHF Price Chart — Daily
Comments
Log in or sign up to join the conversation.