USD/CHF tests key resistance

The US dollar bounces higher as signs of a slowing economy fuel demand for a safer currency. The pair has been grinding its way up from a 28-month low near 0.8820 and is aiming at the psychological level of 0.9000 which so far has acted as an offer magnet. A bullish breakout would prompt sellers to exit in mass and pave the way for a sustained rebound towards 0.9100. As the RSI flirts with the overbought area, 0.8910 is the first support and 0.8870 a second layer to maintain the current impetus in case of a fallback.

USDCHF

EUR/GBP struggles to bounce

The pound holds as the UK narrowly avoided recession with 0.1% growth in Q1. The pair has dropped back to near the start of the breakout rally back in December 2022. A bullish RSI divergence in the vicinity of this important demand zone suggests a slowdown in the bearish drive. 0.8745 is the first obstacle to clear, then the bulls will need to lift the confluence of the support-turned-resistance of 0.8790 and the daily SMAs in order to instil some optimism. A break below 0.8640 would expose last December’s low of 0.8550.

EURGBP

GER 40 hits psychological level

The Dax 40 retreats as investors fret more interest rate hikes are in the pipeline. The price has come off the psychological tag of 16000 where a previous spike revealed strong selling interests. The subsequent retracement has found support at 15770, giving the bulls another chance to push higher. A bullish breakout would trigger a runaway rally to the all-time high of 16300 from November 2021. On the downside, the swing low of 15650 next to the 30-day SMA is key in keeping the upward bias valid in the short-term.

GER40

This market forecast is for general information only. It is not an investment advice or a solution to buy or sell securities.

Authors' opinions do not represent the ones of Orbex and its associates. Terms and Conditions and the Privacy Policy apply.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD hits two-week tops near 1.0500 on poor US Retail Sales

EUR/USD hits two-week tops near 1.0500 on poor US Retail Sales

The selling pressure continues to hurt the US Dollar and now encourages EUR/USD to advance to new two-week peaks in levels just shy of the 1.0500 barrier in the wake of disappointing results from US Retail Sales.

EUR/USD News
GBP/USD surpasses 1.2600 on weaker US Dollar

GBP/USD surpasses 1.2600 on weaker US Dollar

GBP/USD extends its march north and reclaims the 1.2600 hurdle for the first time since December on the back of the increasing downward bias in the Greenback, particularly exacerbated following disheartening US results.

GBP/USD News
Gold maintains the bid tone near $2,940

Gold maintains the bid tone near $2,940

The continuation of the offered stance in the Greenback coupled with declining US yields across the board underpin the extra rebound in Gold prices, which trade at shouting distance from their record highs.

Gold News
Weekly wrap: XRP, Solana and Dogecoin lead altcoin gains on Friday

Weekly wrap: XRP, Solana and Dogecoin lead altcoin gains on Friday

XRP, Solana (SOL) and Dogecoin (DOGE) gained 5.91%, 2.88% and 3.36% respectively on Friday. While Bitcoin (BTC) hovers around the $97,000 level, the three altcoins pave the way for recovery and rally in altcoins ranking within the top 50 cryptocurrencies by market capitalization on CoinGecko. 

Read more
Tariffs likely to impart a modest stagflationary hit to the economy this year

Tariffs likely to impart a modest stagflationary hit to the economy this year

The economic policies of the Trump administration are starting to take shape. President Trump has already announced the imposition of tariffs on some of America's trading partners, and we assume there will be more levies, which will be matched by foreign retaliation, in the coming quarters.

Read more
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

Majors

Cryptocurrencies

Signatures

Best Brokers of 2025