USD/CHF Price Forecast: Hovers above 0.8200 near nine-day EMA barrier
- USD/CHF may approach the initial support at the descending channel’s lower boundary around 0.8140.
- Bearish bias prevails as the 14-day Relative Strength Index is positioned below the 50 mark.
- The immediate barrier appears at the nine-day EMA of 0.8219.
The USD/CHF pair extends its gains for the second successive session, trading around 0.8200 during the Asian hours on Friday. However, the bearish bias is prevailing as the pair moves downwards within the descending channel pattern.
The USD/CHF pair remains below the nine-day Exponential Moving Average (EMA), indicating short-term momentum is weaker. Moreover, the 14-day Relative Strength Index (RSI) remains below the 50 mark, suggesting a persistent bearish outlook.
On the downside, the USD/CHF pair could fall toward the lower boundary of the descending channel around 0.8140. A break below the channel could reinforce the bearish bias and put downward pressure on the pair to navigate the region around 0.8039, the lowest level since November 2011, which was last seen on April 21.
The USD/CHF pair may target the immediate barrier at the nine-day EMA of 0.8219. A break above this level could improve the short-term price momentum and support the pair to explore the area around the descending channel’s upper boundary around 0.8300, followed by the 50-day EMA at 0.8365.
USD/CHF: Daily Chart
Swiss Franc PRICE Today
The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.11% | 0.05% | 0.30% | -0.07% | 0.18% | -0.11% | 0.13% | |
| EUR | -0.11% | -0.06% | 0.16% | -0.18% | 0.02% | -0.21% | 0.05% | |
| GBP | -0.05% | 0.06% | 0.21% | -0.11% | 0.08% | -0.14% | 0.10% | |
| JPY | -0.30% | -0.16% | -0.21% | -0.32% | -0.01% | -0.29% | -0.22% | |
| CAD | 0.07% | 0.18% | 0.11% | 0.32% | 0.24% | -0.03% | 0.20% | |
| AUD | -0.18% | -0.02% | -0.08% | 0.00% | -0.24% | -0.22% | 0.06% | |
| NZD | 0.11% | 0.21% | 0.14% | 0.29% | 0.03% | 0.22% | 0.24% | |
| CHF | -0.13% | -0.05% | -0.10% | 0.22% | -0.20% | -0.06% | -0.24% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).
Author
Akhtar Faruqui
FXStreet
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
