The USD/CHF pair ends the week lower, falling 0.87% for the week and 0.27% for the day as markets remain hopeful about a possible US-Iran deal over the weekend. Meanwhile, the technical picture remains bearish as the pair fell below key moving averages, hitting a five-week low of 0.7775.
USD/CHF Price Forecast: Technical Outlook
The daily chart shows that the pair ended the day below the 50-day plain moving average (SMA) at 0.7825 – the last of a group of four including the 20-, 100- and 200-day SMAs – paving the way for further declines. The relative strength index (RSI) is also in bearish territory, indicating that bears have been aggressive since April 9 when the index broke below the neutral 50 level.
To continue its bearish run, USD/CHF needs to break the key support at 0.7800. Breaking the latter will expose a key support trend line around 0.7775/80, followed by the March 10 daily low at 0.7748. Fresh buying interest is noticeable at the level of 0.7700.
On the other hand, a break of the resistance at the 50-day SMA would expose the 100-day SMA at 0.7871, ahead of the 20-day SMA at 0.7909. The 200-day SMA at 0.7937 lies overhead.
USD/CHF price chart – daily
Swiss franc price this week
The table below shows the percentage change in the Swiss Franc (CHF) against the major currencies traded this week. The Swiss franc was strongest against the US dollar.
| USD | EUR | GBP | JPY | BOOR | 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% | |
| BOOR | 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 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 Swiss Franc from the left column and move along the horizontal line to US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).
