The USD/CHF pair fell on Friday but ended the week up more than 0.35% at 0.7841 as market participants became more confident that US-Iran talks could resume over the weekend to resolve the conflict.
USD/CHF Price Forecast: Technical Outlook
From a technical point of view, it seems that USD/CHF will remain in consolidation in the range of 0.7800-0.7900. Momentum as measured by the Relative Strength Index (RSI) suggests further declines as the index is bearish and points lower.
Price action suggests the uptrend may stall after hitting a nine-day high at 0.7877, but a close near the 50-day SMA at 0.7840 and failure to break key resistance at the 100-day SMA at 0.7863 clear the way for further declines.
If market sentiment remains positive, the USD/CHF pair could test lower levels, with the first area of ​​concern at 0.7800. In case of further weakness, the April 17 low of 0.7775 – the last low of the cycle – will be the next key support before opening the path to the March 10 daily low of 0.7748, ahead of the February 27 daily low of 0.7672.
On the other hand, if buyers reclaim the 100-day SMA, the next resistance line will be the 0.7900 level. A violation of the latter will expose the 200-day SMA at 0.7936 before 0.8000.
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 Japanese yen.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.15% | -0.35% | 0.35% | -0.14% | -0.38% | -0.34% | 0.43% | |
| EUR | -0.15% | -0.51% | 0.00% | -0.27% | -0.52% | -0.56% | 0.28% | |
| GBP | 0.35% | 0.51% | 2.17% | 0.26% | 0.02% | -0.02% | 0.79% | |
| JPY | -0.35% | 0.00% | -2.17% | -0.51% | -0.67% | -0.71% | 0.04% | |
| BOOR | 0.14% | 0.27% | -0.26% | 0.51% | -0.13% | -0.21% | 0.55% | |
| AUD | 0.38% | 0.52% | -0.02% | 0.67% | 0.13% | 0.02% | 0.79% | |
| NZD | 0.34% | 0.56% | 0.02% | 0.71% | 0.21% | -0.02% | 0.77% | |
| CHF | -0.43% | -0.28% | -0.79% | -0.04% | -0.55% | -0.79% | -0.77% |
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).
