USD/CHF Price Forecast: Bulls defend 50-day SMA near 0.8200
The USD/CHF pair edges lower on Thursday, losing 0.46% and dropping towards 0.8200 as safe-haven currencies like the Swiss Franc (CHF) and the Japanese Yen (JPY) are the only currencies appreciating against the Greenback during the day. At the time of writing, the pair trades at 0.8205.
USD/CHF Price Forecast: Technical Outlook
Despite the retreat, the USD/CHF trend remains upward, with the low of the day at 0.8191, near the 50-day Simple Moving Average (SMA) at 0.8193, which was briefly pierced before buyers pushed the pair above the 0.8200 mark.
The Relative Strength Index (RSI) indicates bearish momentum; however, market structure suggests further upside is expected.
For a bullish resumption, buyers must reclaim the 0.8250 area. This exposes the 0.8300 level, followed by the October 15 high at 0.8354, ahead of a challenge of the October 14 high at 0.8395. The next area of interest is 0.8400, followed by the April 1, 2025 high at 0.8847.
On the downside, the USD/CHF first support is 0.8200, followed by the 50-day SMA. The next support is the 100-day SMA at 0.8134, followed by 0.8100.
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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