The US dollar (USD) was steady against the Swiss franc (CHF) on Friday, trying to maintain a position above 0.7830 after struggling at the 0.7900 level on Thursday. An extension of the ceasefire agreement between the US and Iran has bolstered a bit of a risk-on sentiment, which has, in turn, created downward pressure on the typically safe US dollar.
Axios reported that a memorandum of understanding has been reached, extending the ceasefire by 60 days; however, it’s still pending the signature of President Donald Trump.
Amid these developments, hopes for improved relations with Iran tempered the positive influence on the US dollar from a strong personal consumption expenditure (PCE) price index in the US, which kept speculation about a potential rate hike from the Federal Reserve alive. Meanwhile, the KOF leading indicator in Switzerland pointed to a slight uptick in economic activity for April, though it hasn’t notably affected the Swiss franc.
Technical Analysis: USD/CHF is trapped within a bearish channel
Currently, USD/CHF is trading at 0.7839, remaining within a downward channel. Momentum indicators indicate a growing bearish trend. The 4-hour Relative Strength Index (RSI) at around 43 isn’t oversold, leaning slightly bearish, while the Moving Average Convergence Divergence (MACD) histogram displays a significant red bar.
Bearish traders are eyeing support levels above 0.7800, which corresponds to the lows from May 13th, 14th, and 25th. They seem poised to push lower ahead of the convergence of the May 8th low near 0.7760 and the channel’s bottom at 0.7755.
On the upper side, trendline resistance aligns with Thursday’s high of 0.7900. Looking further, the April 12 peak near 0.7930 could also challenge the bullish stance, approaching early April highs above 0.8000.
USD price today
Below is a table showing the percentage change of the US dollar (USD) against major currencies today. Notably, the USD showed strength against the Canadian dollar.
| USD | EUR | GBP | JPY | CAD | Australian dollar | New Zealand dollar | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.12% | 0.16% | 0.02% | 0.16% | 0.09% | -0.43% | 0.01% | |
| EUR | -0.12% | 0.04% | -0.09% | 0.08% | -0.03% | -0.52% | -0.10% | |
| GBP | -0.16% | -0.04% | -0.13% | 0.00% | -0.07% | -0.56% | -0.14% | |
| JPY | -0.02% | 0.09% | 0.13% | 0.17% | 0.07% | -0.45% | -0.00% | |
| CAD | -0.16% | -0.08% | -0.01% | -0.17% | -0.09% | -0.58% | -0.15% | |
| Australian dollar | -0.09% | 0.03% | 0.07% | -0.07% | 0.09% | -0.49% | -0.06% | |
| New Zealand dollar | 0.43% | 0.52% | 0.56% | 0.45% | 0.58% | 0.49% | 0.43% | |
| Swiss franc | -0.01% | 0.10% | 0.14% | 0.00% | 0.15% | 0.06% | -0.43% |
This heat map illustrates percentage changes between major currencies. The base currency is indicated in the left column, while the quote currency appears in the top row. For instance, if you select USD from the left and move towards Japanese Yen, the figure shows the change in USD/JPY.
