USD/CHF Price Forecast: Slides below 0.82, reaches multi-week low as USD appreciates
- USD/CHF drops to 0.8155 amid renewed 'Sell America' sentiment across global markets.
- RSI confirms bearish momentum; next targets are YTD low at 0.8083 and psychological support at 0.8000.
- Recovery needs a break above 0.8200, with resistance at 0.8300 and last week’s high at 0.8346.
USD/CHF extended its losses during Monday’s North American session, down 0.60% as the Greenback weakened across the board. An earlier risk-off impulse, which surprisingly shifted positively, weighs on the US Dollar (USD), which did not capitalize on its status as the 'sell America' trade continues to gain steam in the financial markets. The pair trades below 0.8200 after hitting a six-week low of 0.8155.
USD/CHF Price Forecast: Technical outlook
Since hitting a weekly high of 0.8346, the USD/CHF pair has plummeted sharply due to overall weakness in the US Dollar. Momentum as measured by the Relative Strength Index (RSI) shows that sellers are gathering momentum. This means the major could retest the year-to-date (YTD) lows hit on April 21, a swing low of 0.8083. If that level is surpassed, the next stop would be the 0.8000 figure.
Conversely, if USD/CHF drops below 0.8100, the next support would be the abovementioned YTD low of 0.8083sd and the 0.8000 figure.
USD/CHF Price Chart – Daily
Swiss Franc PRICE Today
The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.85% | -0.62% | -0.81% | -0.27% | -0.97% | -1.32% | -0.78% | |
| EUR | 0.85% | 0.22% | 0.05% | 0.57% | -0.12% | -0.51% | 0.06% | |
| GBP | 0.62% | -0.22% | -0.15% | 0.36% | -0.34% | -0.74% | -0.16% | |
| JPY | 0.81% | -0.05% | 0.15% | 0.54% | -0.17% | -0.53% | -0.07% | |
| CAD | 0.27% | -0.57% | -0.36% | -0.54% | -0.70% | -1.08% | -0.51% | |
| AUD | 0.97% | 0.12% | 0.34% | 0.17% | 0.70% | -0.33% | 0.28% | |
| NZD | 1.32% | 0.51% | 0.74% | 0.53% | 1.08% | 0.33% | 0.57% | |
| CHF | 0.78% | -0.06% | 0.16% | 0.07% | 0.51% | -0.28% | -0.57% |
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
Christian Borjon Valencia
FXStreet
Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.
