USD/CHF Price Forecast: Weekly Loss Despite Friday Rebound to 0.8100 – Analysis & Predictions

  • USD/CHF Closes Higher on Friday Yet Records a Weekly Decline of 1.37% to a One-Month Low at 0.8054.
  • Persistent Bearish Trend: Lower Highs and Lows Alongside a Weak RSI Indicate Continued Downward Momentum.
  • Key Support Levels Identified at 0.8054 and 0.8038; a Break Below Could Target the Key 0.8000 Psychological Level.
  • To Shift to a Bullish Outlook, USD/CHF Needs to Surpass the 0.8147 Resistance, Eyeing 0.8200 and the 50-Day SMA at 0.8257.

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.

USD/CHF Price Forecast: Technical Analysis

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.

USD/CHF Price Chart – Daily

Swiss Franc Performance This Week

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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