USD/CHF Forecast: Bearish Outlook Holds Near 0.8000 as Swiss Franc Strengthens
The USD/CHF pair is trading slightly above 0.8000, around 0.8010, as the European session begins. The bearish outlook remains strong, mainly due to the weakening U.S. dollar and growing market uncertainty. Investors are shifting toward safe-haven currencies like the Swiss franc, which is gaining support from the cautious mood in global markets.
From a technical analysis point of view, USD/CHF is still under pressure. The pair is trading below its 100-day Exponential Moving Average (EMA), and the 14-day RSI is around 46. This shows weak momentum and a continuing bearish trend in the USD/CHF forecast.
Key support levels to watch are 0.7947, followed by 0.7900, and then 0.7872. If the price drops below these levels, it could signal more downside movement. On the other hand, resistance lies at 0.8065. If USD/CHF manages to break above that level, the price might rise toward 0.8180 or even 0.8240.
The Swiss franc remains strong due to its safe-haven status, while the dollar is under pressure from fears of trade tensions and interest rate concerns. Traders are also keeping an eye on upcoming comments from the U.S. Federal Reserve for further clues.
Impact:
USD/CHF might stay weak and fall toward 0.7947 if market fears continue. But a break above 0.8065 could possibly trigger a short-term rebound.