- The USD/CHF has seen a rebound of over 0.20% as market players consider Powell’s dovish stance and a consistent Fed approach.
- The pair is currently situated between the 20 and 50-day SMAs, looking for neutral RSI levels and new drivers.
- Significant support levels are at 0.8000 and 0.7944, while resistance is at 0.8100 and the 100-day SMA at 0.8139.
The USD/CHF has risen more than 0.20% this week, trading at 0.8059, as the dollar recovers from a drop last Friday. Chairman Jerome Powell’s reassuring remarks have helped calm uncertain investors amid fluctuating conditions.
USD/CHF Price Forecast: Technical Outlook
This pair now trades around the simple moving averages (SMA) of 20 and 50 days, at 0.8032 and 0.8074 respectively, but there’s a sort of indecision in the market as traders await upcoming economic data during the week.
The relative strength index (RSI) is hovering around the neutral zone, suggesting that the USD/CHF is consolidating at current levels. Yet, there is pressure, as the pair recently tested a low of 0.8000 not seen since July 28th.
Looking ahead, sellers might eye the 0.7944 level, a recent low from July 28th, preceding a further decline to the swing low of 0.7911 from July 23rd. On the upside, if the price moves above 0.8075, it could pave the way towards 0.8100, with the 100-day SMA at 0.8139 as the next significant resistance.
USD/CHF Price Chart – Daily
Swiss franc price this week
The table below details how the Swiss franc (CHF) has performed against major currencies this week, showing it was particularly strong against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.03% | -0.02% | -0.15% | -0.02% | -0.04% | -0.05% | 0.14% | |
| EUR | -0.03% | 0.02% | 0.02% | -0.04% | -0.02% | 0.15% | 0.15% | |
| GBP | 0.02% | -0.02% | 0.00% | -0.03% | 0.02% | 0.14% | 0.12% | |
| JPY | 0.15% | -0.02% | 0.00% | -0.00% | -0.08% | 0.18% | 0.02% | |
| CAD | 0.02% | 0.04% | 0.03% | 0.00% | -0.02% | 0.17% | 0.02% | |
| AUD | 0.04% | 0.02% | -0.02% | 0.08% | 0.02% | -0.01% | 0.02% | |
| NZD | 0.05% | -0.15% | -0.14% | -0.18% | -0.17% | 0.01% | -0.01% | |
| CHF | -0.14% | -0.15% | -0.12% | -0.02% | -0.02% | -0.02% | 0.01% |
The heatmap illustrates how major currencies have changed against each other. Select a currency from the left column for the base currency and one from the top row for the estimated currency to see their rate of change.
