USD/CHF Plummets Below 0.80: Is This the Secret Signal Wall Street Has Been Waiting For?
So, the USD/CHF just pulled a classic “break and run” move, slipping below the 50-day SMA at 0.8020 and stubbornly closing under the crucial 0.8000 mark. Ever wonder what that means for traders? Well, right now the bears are sharpening their claws, eyeing the next big prey levels at 0.7950 and the July 23 low of 0.7911—with an open runway all the way down to the year’s bottom at 0.7872. Meanwhile, the bulls are left scrambling: reclaiming 0.8000 and that 50-day SMA is their must-do mission before even thinking about challenging resistance at 0.8047 or the 100-day SMA hanging around 0.8122. In a world where the Fed’s whispers about rate cuts get louder thanks to weaker-than-expected Nonfarm Payrolls, this isn’t just a number game—it’s a literal tug of war where momentum tells the tale. Curious about how this showdown unfolds? Dive deeper and get the full scoop here: LEARN MORE.
- USD/CHF breaks under 50-day SMA at 0.8020, closing below 0.8000 with momentum favoring further downside.
- Bears eye 0.7950 and July 23 low at 0.7911, with path open toward year-to-date trough at 0.7872.
- Buyers must reclaim 0.8000 and 50-day SMA to challenge resistance at 0.8047 and 100-day SMA at 0.8122.
The USD/CHF extended its losses on Friday, tumbling below the 50-day Simple Moving Average (SMA) at 0.8020. The release of a worse than expected US Nonfarm Payrolls report, cemented the case for a Fed rate cut at the September meeting. At the time of writing, the pair trades at 0.7980, down 0.94%.
USD/CHF Price Forecast: Technical outlook
Price action indicates that sellers reclaimed momentum, achieving a daily/weekly close below the 0.8000 figure. This reignited the chances for testing the year-to-date (YTD) low of 0.7872, reached on July 1.
Momentum indicates that bears are in control as depicted by the Relative Strength Index (RSI).
That said, if USD/CHF drops below 0.7950, this will expose July 23 low of 0.7911. A breach of the latter clears the path to test 0.7900, followed by the YTD low.
On the other hand, if buyers reclaim 0.8000, they must clear the 50-day SMA, before testing the 20-day SMA at 0.8047. Key resistance lies overhead at the 100-day SMA at 0.8122.
USD/CHF Price Chart – Daily
Swiss Franc Price This week
The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies this week. Swiss Franc was the strongest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.19% | -0.10% | 0.28% | 0.68% | -0.16% | -0.06% | -0.20% | |
| EUR | 0.19% | 0.09% | 0.40% | 0.89% | 0.03% | 0.15% | 0.00% | |
| GBP | 0.10% | -0.09% | 0.20% | 0.77% | -0.06% | 0.04% | -0.04% | |
| JPY | -0.28% | -0.40% | -0.20% | 0.47% | -0.44% | -0.31% | -0.43% | |
| CAD | -0.68% | -0.89% | -0.77% | -0.47% | -0.79% | -0.73% | -0.81% | |
| AUD | 0.16% | -0.03% | 0.06% | 0.44% | 0.79% | 0.10% | 0.02% | |
| NZD | 0.06% | -0.15% | -0.04% | 0.31% | 0.73% | -0.10% | -0.07% | |
| CHF | 0.20% | -0.01% | 0.04% | 0.43% | 0.81% | -0.02% | 0.07% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick 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).
Post Comment