USD/CHF Price Forecast: False breakout at 0.8100 triggers pullback
The USD/CHF pair recoils after reaching a five-day high of 0.8108 on Wednesday, edging down some 0.02% as risk appetite deteriorates due to US President Donald Trump’s suggestion of an end to the ceasefire, as Iran attacked ships on Tuesday. At the time of writing, the pair trades at 0.8078, following a false breakout above 0.8100.
USD/CHF Price Forecast: Technical outlook
After forming a ‘morning star’ at the beginning of the week and testing 0.8100, the USD/CHF pair is now retreating below that level. Nevertheless, bullish momentum remains intact, as the Relative Strength Index (RSI) is bullish but shows signs of fading.
For a bullish continuation, USD/CHF needs to clear the high of the day at 0.8108, followed by the July 1 peak at 0.8120. On further strength, the next area of interest would be 0.8200, followed by the June 4, 2025, daily high at 0.8250. Above this level lies 0.8300.
On the flip side, if USD/CHF tumbles below the 0.8000 psychological figure, it could exacerbate a move towards the 50-day Simple Moving Average (SMA) at 0.7934 ahead of the 200-day SMA at 0.7915. Below is the 0.7900 figure.
USD/CHF Price Chart - Daily
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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