USD/CHF Price Forecast: US Dollar slides below 200-day SMA, bears gain steam
- USD/CHF drops below 200-day SMA as risk sentiment improves sharply.
- RSI turns lower, signaling growing bearish momentum in the near term.
- Failure to reclaim 0.7940 exposes 0.7812 support and deeper downside.
The USD/CHF pair retreats some 0.85% on Wednesday after failing to clear the Tuesday daily high of 0.8011, as the pair slides beneath the 200-day SMA of 0.7940, as market sentiment gets lifted by a two-week ceasefire in the Middle East conflict. The pair trades at 0.7909 after reaching a low of 0.7869.
USD/CHF Price Forecast: Technical Outlook
Despite retreating, USD/CHF remains upward-biased, bouncing off key support at the March 3 daily high, which turned into support at 0.7879, reclaiming the 100-day Simple Moving Average (SMA) at 0.7886, and climbing above 0.7900.
The Relative Strength Index (RSI) is above the neutral level but plunging, poised to turn bearish, an indication that sellers are gaining momentum. Should price action follow suit the RSI, USD/CHF could challenge the 50-day SMA at 0.7812 in the short term.
Otherwise, if USD/CHF climbs back above the 200-day SMA at 0.7940, a move back towards 0.8000 is on the cards.
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 | -0.63% | -0.83% | -0.63% | -0.27% | -0.98% | -1.52% | -0.80% | |
| EUR | 0.63% | -0.21% | 0.00% | 0.36% | -0.35% | -0.94% | -0.19% | |
| GBP | 0.83% | 0.21% | 0.21% | 0.58% | -0.11% | -0.68% | 0.03% | |
| JPY | 0.63% | 0.00% | -0.21% | 0.36% | -0.31% | -0.88% | -0.17% | |
| CAD | 0.27% | -0.36% | -0.58% | -0.36% | -0.68% | -1.24% | -0.54% | |
| AUD | 0.98% | 0.35% | 0.11% | 0.31% | 0.68% | -0.57% | 0.14% | |
| NZD | 1.52% | 0.94% | 0.68% | 0.88% | 1.24% | 0.57% | 0.72% | |
| CHF | 0.80% | 0.19% | -0.03% | 0.17% | 0.54% | -0.14% | -0.72% |
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
Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.
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