USD/CHF Price Forecast: Shooting star warns bulls below 0.8200
The USD/CHF extends its gains for the seventh straight trading session, up a minimal 0.05% after registering a one-month high of 0.8195, shy of cracking the 0.8200, but ultimately the pair is poised to end the session at around 0.8169.
USD/CHF Price Forecast: Technical Outlook
The overall trend is up, but a looming shooting star could trigger a short-term pullback in the USD/CHF. The Relative Strength Index (RSI) indicates bullish momentum, trending higher. So even though the market structure could point lower, it could be a short-lived leg down, before the uptrend resumes.
If bullish momentum resumes, the USD/CHF may re-test the 0.8200 figure. A decisive breakout can drive spot prices past the yearly high of 0.8207, with the June 19 2025, seen as the next resistance area at 0.8215, ahead of the June 4, 2025, high at 0.8250. On further strength up next is 0.8300.
For a bearish reversal, the USD/CHF needs to drop below the September 11 swing low of 0.8124, followed by the 50-day SMA at 0.8098. Once cleared, the next area of interest becomes the September 3 low of 0.8052.
USD/CHF Chart – Daily
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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