USDCHF Technical Analysis: The USD/CHF pair has experienced significant volatility over the past few hours, influenced by recent US economic data, most notably the Consumer Price Index (CPI), which surprised markets with a stronger-than-expected reading, increasing the likelihood of a tighter-than-expected monetary policy from the Federal Reserve.
At the same time, markets continue to monitor monetary policy developments from the Swiss National Bank (SNB), especially given the franc’s recent weak performance against a basket of major currencies.
USDCHF Technical Analysis: Current Trading Prices
- Current Price 30.8447
- Daily High 0.8485
- Daily Low 0.8370
General Trend and Technical Analysis
General Trend:
The short-term trend is bearish, despite recent attempts to form a double bottom near the 0.83700 support area. Moving averages continue to indicate general selling pressure.
Technical Indicators:
- Moving Averages:
The price is below the 50, 100, and 200-day moving averages, reinforcing the negative outlook.
A clear negative crossover between the short- and long-term moving averages.
- MACD:
A positive crossover is emerging, but it’s starting to weaken, with the fast line approaching a negative crossover again.
Buying momentum is gradually losing strength.
- Stochastic Oscillator:
It’s heading down after reaching overbought areas above 80.
It indicates a possible downward correction in the short term.
Expected Scenario
- Positive Scenario:
If the price can hold above 0.84983, we may witness an attempt to rise towards 0.85330, provided there is strong buying momentum supported by positive news from the United States.
- Negative scenario:
If the price breaks the 0.84157 support level, it could open the door to a rapid decline towards 0.83709 and then 0.83504, especially if upcoming economic data is negative or demand for the franc as a safe haven increases.
Trading strategies based on Buy/Sell levels
| USDCHF | In case of buying | in case of selling |
| Entry point | 0.84983 | 0.84157 |
| Target Point 1 (TP1) | First resistance: 0.85330 | First support: 0.83709 |
| Target Point 2 (TP2) | Second resistance: 0.85410 | Second support: 0.83504 |
| Stop Loss (SL) | 0.84157 | 0.84983 |
The USD/CHF pair is facing a critical equilibrium between buyers and sellers, moving within a clear technical range between support at 0.84157 and resistance at 0.84983. We recommend traders monitor technical levels carefully, while keeping an eye on the US economic calendar, which could have a decisive impact on today’s trading.
