The USD/CHF pair retreated on Friday during the North American session, down 0.53% as the US dollar weakened following the dismal jobs report and broke to a four-day low below 0.7800. At the time of writing, the pair is trading at 0.7771, but the week remains with an enhance of over 1%.
USD/CHF Price Forecast: Technical Outlook
The technical picture shows that USD/CHF remains biased to the downside as the pair failed to break the 0.7800 level, opening the door to further declines. The momentum has started to shift slightly towards the negative, as illustrated by the Relative Strength Index (RSI) which will soon exceed its neutral level. That said, the path of least resistance is tilted downwards.
The first area of ​​demand will be the support trend line drawn from this year’s lows around 0.7601, which is near the 0.7670-0.7700 range. Violation of the latter will expose the January 28 low at 0.7606.
On the other hand, if USD/CHF regains the 0.7800 level, expect a test of the March 3 high at 0.7878. The next area of ​​interest will be the 100-day elementary moving average (SMA) at 0.7905.
USD/CHF price chart – daily
Today’s US dollar price
The table below shows the current percentage change of the United States Dollar (USD) against the major listed currencies. The US dollar was strongest against the Japanese yen.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.02% | -0.23% | 0.16% | -0.60% | -0.16% | 0.00% | -0.52% | |
| EUR | -0.02% | -0.27% | 0.15% | -0.63% | -0.19% | -0.03% | -0.55% | |
| GBP | 0.23% | 0.27% | 0.40% | -0.37% | 0.08% | 0.23% | -0.29% | |
| JPY | -0.16% | -0.15% | -0.40% | -0.77% | -0.33% | -0.19% | -0.70% | |
| BOOR | 0.60% | 0.63% | 0.37% | 0.77% | 0.43% | 0.59% | 0.08% | |
| AUD | 0.16% | 0.19% | -0.08% | 0.33% | -0.43% | 0.16% | -0.36% | |
| NZD | -0.00% | 0.03% | -0.23% | 0.19% | -0.59% | -0.16% | -0.52% | |
| CHF | 0.52% | 0.55% | 0.29% | 0.70% | -0.08% | 0.36% | 0.52% |
The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select 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).
