USD/CHF prices continue to decline for the second week in a row, amid clear seller dominance and mounting negative pressure. The hourly chart shows the pair breaking one support after another, raising important questions: Is the bottom approaching? Or is there more downside ahead?
Current Price and Market Trend
- Current Price: 0.80556
- General Trend: Strongly Bearish
- Current Resistance: 0.81215
- Next Support: 0.80275 and then 0.79970
The pair records its lowest levels since early April
A bearish breakout of the moving averages with declining momentum
Selling pressure dominates the technical scene
USD/CHF Technical Analysis
General Trend:
The pair is moving within a clear downward channel, having repeatedly failed to break the descending moving averages, with each upward attempt being met with stronger selling waves. Technical Indicators:
- MACD: Negative and accelerating downward, confirming selling control.
- Stochastic Oscillator: Approaching oversold areas, it may show a temporary rebound but without changing the overall trend.
- Moving Averages: The price is below all major moving averages (20, 50, 200), reflecting bearish control.
Technical Outlook for Today
The pair is expected to continue declining towards the 0.8027 support level. If broken, 0.7997 will become the next target. However, in the event of a technical rebound, the 0.8120 level may constitute very strong resistance, preventing any easy recovery.
Probable Scenario: Continuation of the decline towards 0.7997
Alternative Scenario: Limited rebound towards 0.8100 – 0.8120, followed by a return to the decline.
Trading strategies based on Buy/Sell levels
| USDCHF | In case of buying | in case of selling |
| Entry point | 0.81215 | 0.80275 |
| Target Point 1 (TP1) | First resistance: 0.81639 | First support: 0.79790 |
| Target Point 2 (TP2) | Second resistance: 0.81745 | Second support: 0.79500 |
| Stop Loss (SL) | 0.80275 | 0.81215 |
The USD/CHF pair is facing clear selling pressure amid a weakening dollar and market preference for the franc as a relative safe haven. Technical indicators and current levels support a continuation of the downtrend, unless the 0.8120 resistance is breached with a clear close.
Traders are advised to be cautious about random buying and monitor the 0.8027 support as a crucial element in determining the next direction.
