USD/CHF finished the week lower, down 0.87% for the week and 0.27% on the day, as markets turned optimistic about a potential US-Iran deal over the weekend. Meanwhile, the technical picture remains bearish, as the pair fell below the key moving average and hit a five-week low at 0.7775.
USD/CHF Price Forecast: Technical Outlook
The daily chart shows that the pair finished the day below the 50-day simple moving average (SMA) at 0.7825 – the last of the group of four that includes the 20-, 100- and 200-day SMAs –, which opens the door to further downside. The Relative Strength Index (RSI) is also in the bearish zone, indicating that bears have turned aggressive since April 9, when the index dropped below its 50-neutral level.
For bearish continuation, USD/CHF needs to clear the key support at 0.7800. Breach of the latter would highlight a key support trendline around 0.7775/80, followed by a daily low at 0.7748 on March 10. Fresh buying interest is seen at 0.7700.
On the other hand, a break of the resistance at the 50-day SMA will expose the 100-day SMA at 0.7871, ahead of the 20-day SMA at 0.7909. The overhead is at 200-day SMA 0.7937.
USD/CHF Price Chart – Daily
Swiss franc price this week
The table below shows the percentage change of the Swiss Franc (CHF) against the major currencies listed this week. The Swiss franc was the strongest against the US dollar.
| USD | EUR | gbp | JPY | scurvy | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.78% | -0.92% | -0.59% | -1.23% | -2.48% | -1.43% | -1.14% | |
| EUR | 0.78% | -0.15% | 0.17% | -0.43% | -1.65% | -0.66% | -0.34% | |
| gbp | 0.92% | 0.15% | 0.26% | -0.30% | -1.50% | -0.51% | -0.18% | |
| JPY | 0.59% | -0.17% | -0.26% | -0.66% | -1.84% | -0.74% | -0.57% | |
| scurvy | 1.23% | 0.43% | 0.30% | 0.66% | -1.10% | -0.09% | 0.11% | |
| AUD | 2.48% | 1.65% | 1.50% | 1.84% | 1.10% | 1.06% | 1.27% | |
| NZD | 1.43% | 0.66% | 0.51% | 0.74% | 0.09% | -1.06% | 0.31% | |
| CHF | 1.14% | 0.34% | 0.18% | 0.57% | -0.11% | -1.27% | -0.31% |
The heat map shows the percentage change of major currencies against each other. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you select 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).
