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USD/CHF remains subdued on Friday, yet the pair trades below 0.8000, poised to finish the week with modest gains of over 0.25%. At the time of writing, the pair trades at 0.7956, virtually unchanged.

USD/CHF Price Forecast: Technical outlook

The USD/CHF pair continued to consolidate this week. Although traders are facing stir resistance at the confluence of the 20 and 50-day Simple Moving Average (SMA) at 0.7974/84, a breach of the latter could drive the pair towards 0.8000.

Momentum is bearish as depicted by the Relative Strength Index (RSI), meandering below its 50 neutral level.

For a bearish continuation, traders must clear the October 17 swing low of 0.7873. If surpassed, the next support would be the yearly low of 0.7829. Conversely, if USD/CHF climbs above 0.8000, the first resistance would be the 100-day SMA at 0.8022, followed by the October 8 high at 0.8076 and the 0.8100 figure.

USD/CHF Price Chart – Daily

(Click on image to enlarge)

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