USD/CHF slides below 0.7930 amid generalised Dollar weakness
- USD/CHF reversal from 0.8040 extends below 0.7930 amid a higher risk appetite.
- Hopes of a swift end to the Iran war have sent the US Dollar tumbling.
- The pair approaches trendline support at 0.7910
The US Dollar (USD) is trading lower across the board on Wednesday, extending its reversal against the Swiss Franc (CHF) to session lows at 0.7925 so far, from highs above 0.8040 highs on Tuesday.
Investors’ appetite for risk is crushing the Greenback on Wednesday, following comments by US President Donald Trump hinting at a quick exit from the Iran war. Trump affirmed on Tuesday that he expects the conflict to end in the next two or three weeks, no matter if a deal with Tehran is reached, or not, and that the Strait of Hormuz will reopen “automatically”. The president is expected to address the nation at 01:00 GMT on Thursday to provide an "important update” on Iran.
Technical Analysis
The USD/CHF daily chart shows an impulsive reversal from a key resistance level at the mid-range of the 0.8000s. Price action is nearing trendline support from early March lows. A clear break of this line, now at 0.7910, would confirm a trend shift and might lure bears into a deeper reversal.
Technical indicators in the daily chart remain moderately bullish. The Relative Strength Index (RSI) stays above the 50 midline, suggesting moderate upside momentum after easing from overbought territory. The Moving Average Convergence Divergence (MACD) line remains above the Signal line in positive territory. Intraday studies, however, show a building bearish momentum.
A break of the mentioned trendline, at 0.7910, would expose March 23 lows at 0.7835. On the upside, previous support at the 0.7980 area is likely to turn into resistance ahead of the mentioned 0.8045 resistance area
(The technical analysis of this story was written with the help of an AI tool.)
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.41% | -0.59% | -0.11% | -0.13% | -0.67% | -0.37% | -0.90% | |
| EUR | 0.41% | -0.18% | 0.29% | 0.28% | -0.25% | 0.05% | -0.48% | |
| GBP | 0.59% | 0.18% | 0.49% | 0.47% | -0.06% | 0.24% | -0.29% | |
| JPY | 0.11% | -0.29% | -0.49% | -0.01% | -0.52% | -0.26% | -0.75% | |
| CAD | 0.13% | -0.28% | -0.47% | 0.00% | -0.52% | -0.24% | -0.75% | |
| AUD | 0.67% | 0.25% | 0.06% | 0.52% | 0.52% | 0.31% | -0.22% | |
| NZD | 0.37% | -0.05% | -0.24% | 0.26% | 0.24% | -0.31% | -0.53% | |
| CHF | 0.90% | 0.48% | 0.29% | 0.75% | 0.75% | 0.22% | 0.53% |
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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Author
Guillermo Alcala
FXStreet
Graduated in Communication Sciences at the Universidad del Pais Vasco and Universiteit van Amsterdam, Guillermo has been working as financial news editor and copywriter in diverse Forex-related firms, like FXStreet and Kantox.
