The USD/CHF pair concluded Friday’s trading session with a slight increase of 0.04%, though it experienced a significant weekly fall of 1.37%, reaching a one-month low of 0.8054. Currently, the pair is trading at 0.8104, driven by a heightened demand for the US Dollar amid risk aversion.
The technical outlook for USD/CHF remains bearish, characterized by a pattern of lower highs and lower lows, suggesting that the selling pressure is sustained. Additionally, the Relative Strength Index (RSI) has dipped further, reinforcing the bearish sentiment and indicating a downward trajectory for the pair.
Should USD/CHF breach the 0.8100 mark, it could encounter the next support at the June 13 low of 0.8054. A continued decline might reach 0.8038, and potentially the significant 0.8000 level.
Conversely, a strong upward break through the June 13 high of 0.8147 could pave the way for testing the 0.8200 mark, followed by a move towards the 50-day Simple Moving Average (SMA) at 0.8257.
The table below displays the percentage change of the Swiss Franc (CHF) against major listed currencies over the week, with notable strength against the Australian Dollar.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | -1.33% | -0.29% | -0.52% | -0.82% | 0.15% | 0.09% | -1.29% | |
EUR | 1.33% | 1.00% | 0.82% | 0.51% | 1.53% | 1.36% | 0.04% | |
GBP | 0.29% | -1.00% | -0.10% | -0.49% | 0.53% | 0.38% | -0.91% | |
JPY | 0.52% | -0.82% | 0.10% | -0.30% | 0.63% | 0.50% | -0.84% | |
CAD | 0.82% | -0.51% | 0.49% | 0.30% | 0.86% | 0.84% | -0.46% | |
AUD | -0.15% | -1.53% | -0.53% | -0.63% | -0.86% | -0.18% | -1.43% | |
NZD | -0.09% | -1.36% | -0.38% | -0.50% | -0.84% | 0.18% | -1.24% | |
CHF | 1.29% | -0.04% | 0.91% | 0.84% | 0.46% | 1.43% | 1.24% |
This heat map illustrates the percentage changes of major currencies relative to each other. The base currency is selected from the left column, while the quote currency is from the top row. For instance, selecting the Swiss Franc from the left and moving horizontally to the US Dollar shows the percentage change for CHF (base)/USD (quote).
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