USD/CHF Price Forecast: Weekly Loss Despite Friday Rebound to 0.8100

• USD/CHF sees slight increase on Friday by 0.04%, yet experiences a significant weekly decline of 1.37%, reaching a one-month low at 0.8054.
• Continued bearish trend indicated by successive lower highs and lows, alongside a weakening RSI, suggesting further declines.
• Critical support levels identified at 0.8054 and 0.8038; a drop below could target the key psychological mark of 0.8000.
• To shift momentum, bulls must surpass 0.8147 to potentially reach 0.8200 and approach the 50-day SMA around 0.8257.

The USD/CHF pair closed Friday’s trading session with a modest gain of over 0.04%, yet recorded a weekly loss of 1.37%, hitting a one-month low of 0.8054. Currently, the pair is trading at 0.8104, influenced by heightened demand for the Dollar amidst risk aversion.

USD/CHF Price Forecast: Technical Analysis

The USD/CHF shows a bearish bias with a pattern of lower highs and lows, indicating strong selling pressure. Moreover, the Relative Strength Index (RSI) also suggests a bearish outlook. Consequently, the path of least resistance appears to be downward.

If USD/CHF breaks below the 0.8100 level, it could seek support at the June 13 low of 0.8054. Further declines might test the support at 0.8038, before potentially reaching the critical level of 0.8000.

Conversely, a successful breach above the recent high of 0.8147 could pave the way for testing resistance at 0.8200, followed by the 50-day Simple Moving Average (SMA) situated near 0.8257.

USD/CHF Price Chart – Daily