• The USD/CHF continues extending its two-week rally, gaining 1.53%.
  • Risk appetite increased and weighed on the USD/CHF, falling 0.15%.
  • USD/CHF Price Forecast: In the short-term, to persist downward biased.

The USD/CHF records minimal losses for the third day in the week, though it clings above the 0.9600 mark, just above the 50-day moving average (DMA) at 0.9562. At the time of writing, the USD/CHF is trading at 0.9596.

A risk-on market mood keeps the greenback on the defensive. European bourses finished Thursday’s session with gains, while US equities are gaining. The US Dollar Index, a measure of the buck’s value vs. a group of peers, is falling 0.10%, sitting at 101.970.

Elsewhere, the USD/CHF appears to found its feet after dropping from YTD highs at 1.0000 towards 0.9600. For two consecutive days, the major has been trading within the 0.9573-0.9642 band, unable to break above/below the range, despite some US economic data that investors ignored.

From a technical analysis perspective, the USD/CHF remains in an uptrend, and it’s worth noting that the price action of the last three days formed a “bullish-harami,” a reversal candle-chart pattern.

During the day, the USD/CHF began trading near 0.9606 and so far has seesawed around the 0.9585-0.9632 range. Of late, it stabilized around 0.9600 as market players prepare for Friday’s Personal Consumption Expenditure (PCE), the Federal Reserve’s preferred measure for inflation.

USD/CHF Price Forecast: Technical outlook

Volatility in the USD/CHF shrank, as shown by the Bollinger bands, in the 4-hour chart, depicting a trading range of 0.9579-0.9669. However, a continuation to the downside remains in play in the short term, as the 20, 50, 100, and 200-4H simple moving averages (SMAs) reside above the spot price, leaving the major vulnerable to additional selling pressure.

That said, the USD/CHF first support would be Bollinger’s bottom band at 0.9579. Break below would expose the June 30, 2020 highs at 0.9533, followed by March 16 swing high-turned-support at 0.9460.

Key Technical Levels


Today last price 0.9596
Today Daily Change -0.0019
Today Daily Change % -0.20
Today daily open 0.962
Daily SMA20 0.9829
Daily SMA50 0.9561
Daily SMA100 0.9395
Daily SMA200 0.9304
Previous Daily High 0.9642
Previous Daily Low 0.9598
Previous Weekly High 1.0064
Previous Weekly Low 0.9694
Previous Monthly High 0.9759
Previous Monthly Low 0.9221
Daily Fibonacci 38.2% 0.9625
Daily Fibonacci 61.8% 0.9615
Daily Pivot Point S1 0.9598
Daily Pivot Point S2 0.9576
Daily Pivot Point S3 0.9554
Daily Pivot Point R1 0.9642
Daily Pivot Point R2 0.9664
Daily Pivot Point R3 0.9686



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