The USD/CHF pair reverses modest intraday losses and climbs to the top end of its daily range during the first half of the European session on Wednesday. Spot prices, however, remain confined within the weekly range and currently trade just below the 0.8100 mark, nearly unchanged for the day as traders seem hesitant ahead of US inflation figures.
The US Producer Price Index (PPI) and the Consumer Price Index (CPI) will be published on Thursday and Friday, respectively. The crucial data will be looked at for more cues about the US Federal Reserve's (Fed) policy path, which, in turn, will drive the US Dollar (USD) and provide a fresh impetus to the USD/CHF pair. In the meantime, rising September Fed rate hike bets and inflation risks stemming from persistently higher energy prices due to escalating US-Iran tensions should act as a tailwind for the Greenback.
The USD/CHF pair keeps the near-term bias constructive above the 100-day Simple Moving Average (SMA) at 0.8004 and a dense Fibonacci support band between the 61.8% retracement at 0.8028 and the 38.2% retracement at 0.8077. Meanwhile, the Relative Strength Index (RSI) around 50 suggests neutral momentum after earlier gains. The Moving Average Convergence Divergence (MACD), however, has turned slightly positive, hinting that upside pressure is moderating rather than reversing.
This suggests that the USD/CHF pair might continue to find some support near the 38.2% Fibo. retracement at 0.8077, which is followed by the 50.0% level at 0.8053 and the 61.8% retracement at 0.8028. A deeper pullback would expose the 100-day SMA at 0.8004, ahead of the 78.6% retracement at 0.7994 and the prior swing base near 0.7950. On the topside, initial resistance sits at the 23.6% retracement at 0.8107, with a break higher opening the way toward the cycle high around 0.8156.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
USD/CHF daily chart
US Dollar FAQs The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
Overview: Based on Arc Cycle Analysis applied to the 1h chart, U.S. Dollar / Swiss Franc is interacting with the 0.786 Resistance Arc within the current Arc Cycle. Price is breaking this Resistance Arc, suggesting the potential for a breakout toward the next Resistance Arc.
Metric
Reading
Market Bias
Bullish
Preferred Scenario
Advance Toward the Next Resistance Arc
Primary Target Zone
0.8151
Scenario Invalidation
Sustained close below 0.8066
Current Arc Level
Resistance Arc (0.786)
Cycle Status
Testing Resistance Arc
Arc Integrity
Weakening
Market OutlookPrice is testing the 0.786 Resistance Arc, where continued buying pressure could result in a breakout toward the next Resistance Arc. A sustained breakout above the Resistance Arc would support continued movement toward the next Resistance Arc at 0.8151 (1 Arc / 100%).
Conversely, failure to achieve a sustained 1h close above the Resistance Arc would invalidate the bullish scenario and could shift the outlook toward the next Support Arc.
USD/CHF trades with a downside bias on Monday as the US Dollar (USD) stays on the defensive, largely due to broad Japanese Yen (JPY) strength. At the time of writing, the pair trades around 0.8091 after retreating from an intraday high of 0.8110. USD/JPY falls to a six-and-a-half-month low near 154.40, while the US Dollar Index (DXY) hovers near a two-week low around 98.90.
The Greenback weakens despite escalating tensions in the Middle East, which are adding to inflation concerns through higher Oil prices. Combined with Friday’s robust US employment report, elevated energy costs reinforce expectations of Federal Reserve (Fed) interest rate hikes. US Producer Price Index (PPI) and Consumer Price Index (CPI) data due later this week will be closely watched ahead of the Fed’s September 15-16 policy meeting.
However, the Swiss Franc (CHF) struggles to capitalise on US Dollar weakness. As expectations of further monetary policy tightening by the Bank of Japan (BoJ) make the Yen less attractive for funding carry trades, the Franc has emerged as an alternative due to the Swiss National Bank’s (SNB) 0% policy rate. Meanwhile, the SNB’s readiness to intervene in the foreign exchange market to curb any sharp appreciation of the Franc also limits demand for the currency.
Technical Analysis
On the daily chart, USD/CHF holds near the 50-day Simple Moving Average (SMA) around 0.8091, keeping the near-term outlook neutral, with the broader structure still supported by the 100-day and 200-day SMAs.
The Relative Strength Index (RSI) near 51 suggests balanced momentum, while the Moving Average Convergence Divergence (MACD) stays marginally positive, hinting at a modestly constructive bias as long as the pair holds above its underlying moving-average floor.
On the upside, initial resistance is seen near 0.8150, followed by the 0.8200 mark. A clear break above these levels could open the door to further gains toward territory last seen in May 2025.
On the downside, immediate support is seen at the psychological 0.8000 level, reinforced by the 100-day SMA just beneath it and then by the longer-term 200-day SMA around 0.7935, with a daily close below this zone needed to expose a deeper bearish extension.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the New Zealand Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.11%-0.17%-1.16%-0.17%-0.20%0.06%-0.09%EUR0.11%-0.05%-1.06%-0.09%-0.09%0.16%0.03%GBP0.17%0.05%-1.00%-0.02%-0.03%0.22%0.07%JPY1.16%1.06%1.00%1.02%0.99%1.26%1.13%CAD0.17%0.09%0.02%-1.02%-0.04%0.22%0.06%AUD0.20%0.09%0.03%-0.99%0.04%0.26%0.10%NZD-0.06%-0.16%-0.22%-1.26%-0.22%-0.26%-0.15%CHF0.09%-0.03%-0.07%-1.13%-0.06%-0.10%0.15% 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).
The USD/CHF registers modest gains of over 0.30% as the Greenback is boosted by a solid US Nonfarm Payrolls report, pushing the pair above the 50-day Simple Moving Average (SMA) to reach a daily high of 0.8126. At the time of writing, trades at 0.8098.
USD/CHF Price Forecast: Technical OutlookThe USD/CHF trades just above the 50-day SMA but off daily highs, suggesting sellers have moved in to push the pair below 0.8100. Nevertheless, the overall trend remains upwards unless it falls below the August 20 swing low of 0.7949, which could exacerbate a move towards the 200-day SMA at 0.7932.
The Relative Strength Index (RSI) has turned bullish, but since it has pierced the 50-neutral level, USD/CHF is expected to trade sideways in the short term.
For a bullish resumption, USD/CHF needs to clear 0.8100. A move past that level can pave the way for a recovery towards 0.8150, with buyers setting their sights on 0.8200. Above the next area of interest is the yearly high at 0.8207.
On the downside, a decisive breakout below 0.8000 will expose the 100-day SMA at 0.7995, followed by the 0.7949 August 20 daily low. Beneath sits the 200-day SMA at 0.7932.
USD/CHF Price Chart – Daily
USD/CHF daily chart Mexican Peso FAQs The Mexican Peso (MXN) is the most traded currency among its Latin American peers. Its value is broadly determined by the performance of the Mexican economy, the country’s central bank’s policy, the amount of foreign investment in the country and even the levels of remittances sent by Mexicans who live abroad, particularly in the United States. Geopolitical trends can also move MXN: for example, the process of nearshoring – or the decision by some firms to relocate manufacturing capacity and supply chains closer to their home countries – is also seen as a catalyst for the Mexican currency as the country is considered a key manufacturing hub in the American continent. Another catalyst for MXN is Oil prices as Mexico is a key exporter of the commodity.
The main objective of Mexico’s central bank, also known as Banxico, is to maintain inflation at low and stable levels (at or close to its target of 3%, the midpoint in a tolerance band of between 2% and 4%). To this end, the bank sets an appropriate level of interest rates. When inflation is too high, Banxico will attempt to tame it by raising interest rates, making it more expensive for households and businesses to borrow money, thus cooling demand and the overall economy. Higher interest rates are generally positive for the Mexican Peso (MXN) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken MXN.
Macroeconomic data releases are key to assess the state of the economy and can have an impact on the Mexican Peso (MXN) valuation. A strong Mexican economy, based on high economic growth, low unemployment and high confidence is good for MXN. Not only does it attract more foreign investment but it may encourage the Bank of Mexico (Banxico) to increase interest rates, particularly if this strength comes together with elevated inflation. However, if economic data is weak, MXN is likely to depreciate.
As an emerging-market currency, the Mexican Peso (MXN) tends to strive during risk-on periods, or when investors perceive that broader market risks are low and thus are eager to engage with investments that carry a higher risk. Conversely, MXN tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
Well, that was quite a straightforward initial reaction in the market. But once the dust settled, we saw a quick return to pre-NFP levels on many markets, as traders realised it is the CPI – due next week – that matter more right now. Meanwhile, Trump has bizarrely suggested that the Fed should CUT rates because of the strong jobs numbers. That’s not going to happen, rest assured. The dollar bulls could re-emerge later especially against currencies where there is no yield advantage. Given the shenanigans in the Japanese yen market, I think the USD/CHF is the pair to keep an eye on as it could rise with the US yield advantage growing post NFP.
Source: TradingView.com
Anyway, the US jobs report came out much stronger than expected, for a change. And good news was bad news, I suppose, as the big beat sent rate-hike expectations soaring, causing stocks, gold and crypto to take a bit of a quick, but mini dump. Soon after, though, those moves reversed, and in some cases entirely. The bond market also fell, yields rose, and markets are now expecting the Fed to hike interest rates in September, with the probability rising to 59% from 49% before the data was released. Let’s see how the markets will take it from here on, now that we have had the usual spike and return to pre-jobs levels.
How good was the NFP data?
As far as the data is concerned, the headline number was quite strong at 162,000, compared with just 56,000 expected. That was a much better performance compared with the previous month.
Speaking of the previous month, the -23,000 figure was revised to +21,000. The net revision for the prior two months was +55,000. When you consider the revisions alongside the big beat, it was a strong number overall, and markets reacted in the way you would have expected - at least initially anyway.
The unemployment rate, meanwhile, stayed the same at 4.1%, so there were no surprises there.
Average hourly earnings came in at 0.3% month over month, again in line with expectations. However, the year-over-year rate beat expectations, coming in at 3.1% compared with 3% expected.
So that’s another sign that inflation isn’t weakening, with wage growth remaining relatively firm.
Focus turns to CPI
The focus will now turn to the US CPI report due next week. And given Fed Governor Waller’s suggestion yesterday that he will wait for the CPI data before deciding whether to vote for a hike or hold, it looks like many traders will be looking forward to that CPI release. Hence, the post-NFP reaction quickly faded as traders took profit.
Anyway, CPI is the last major piece of data before the Fed meets again in a couple of weeks’ time.
For now, it looks like a rate hike could be on the way, with the market increasing expectations of such an outcome.
What to expect from markets next?
So, the key question now is: will we see some weakness following the jobs report for equity and other markets sensitive to rate expectations?
Well, so far, the reaction has been interesting. US index futures were slightly higher before the data release, but they turned negative after the jobs report, not by a huge degree, but there was a bit of a pullback. However, the initial moves unwound quite quickly.
Now, it all depends on whether the market thinks a Fed hike is definitely on the cards. And to some degree, a lot will also depend on the price of oil, which has weakened today but has been going up over the last few days.
So, keep an eye on oil prices, as they could have an important impact on market sentiment.
As far as the US dollar is concerned, the initial reaction was a positive one, as you would have expected.
Interestingly, though, the USD/JPY remained heavy. It couldn’t move much above 156.00 initially, and after the data was released, it quickly sold off, suggesting there was perhaps some continuing intervention in that market.
Elsewhere, EUR/USD fell below the 1.1600 handle, reaching a low so far of around 1.1580 to 1.1585, before bouncing back from there at the time of writing to reach near pre-data levels of 1.1615. Gold also fell and the bounced off its low.
The question now is whether we will see fresh losses for assets like gold, indices and bitcoin, or whether we’ll see the return of the US dollar debasement trade, where the dollar sells off despite stronger US economic data. So far, it has been the latter, but the US session has just started.
In a nutshell
So far, it’s been a fairly mild reaction to the strong jobs report. The initial reaction wasn’t too significant, suggesting that markets are perhaps waiting for next week’s CPI release before deciding whether to punish the dollar or buy it more decisively. The jury is still out.
The USD/CHF tumbles nearly 0.80% on Thursday as the Greenback weakens on rumours of a potential intervention in the FX markets to boost the Japanese Yen. Consequently, the pair fell from around daily highs of 0.8131, extending its losses to the current exchange rate near 0.8065.
USD/CHF Price Forecast: Technical outlookThe USD/CHF tumbled below the 50-day Simple Moving Average (SMA) of 0.8090, but so far is retaining its upward bias, as the pair is above a previously broken resistance trendline, turned support. Also, the 100- and 200-day SMAs remain below the current exchange rate, meaning that in the medium and long term, the overall trend remains up.
Nevertheless, momentum shifted in the near-term. The Relative Strength Index (RSI) turned bearish, an indication that sellers are in charge. Hence, in the short term, further downside is seen, unless buyers reclaim key technical resistance areas.
On the downside, the first support for USD/CHF is the July 30 low of 0.8039. Below lies 0.8000, followed by the 100-day SMA at 0.7992 and the 200-day SMA at 0.7934.
On the other hand, if USD/CHF reclaims 0.8100, the next resistance is the September 2 high at 0.8156, before traders test 0.8200.
USD/CHF Price Chart – Daily
USD/CHF daily chart Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the US Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.39%-0.39%-1.99%-0.40%-0.51%-0.53%-0.75%EUR0.39%-0.00%-1.63%-0.06%-0.11%-0.20%-0.37%GBP0.39%0.00%-1.62%-0.05%-0.11%-0.18%-0.37%JPY1.99%1.63%1.62%1.62%1.52%1.45%1.27%CAD0.40%0.06%0.05%-1.62%-0.11%-0.17%-0.35%AUD0.51%0.11%0.11%-1.52%0.11%-0.06%-0.26%NZD0.53%0.20%0.18%-1.45%0.17%0.06%-0.15%CHF0.75%0.37%0.37%-1.27%0.35%0.26%0.15% 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).
EUR/USD, USD/CAD and USD/CHF forecast: Key reversal setups emerge as the dollar weakens ahead of NFP, with 1.1640, 1.3780 and 0.8050 in focus.
In this article:EUR/USD
+0.31%
EUR/USD ForecastUSD/CAD
-0.32%
USD/CAD ForecastUSD/CHF
-0.66%
EUR/USD Technical Analysis
EUR/USD price chart showing price at 1.16260, trading above both the 50 EMA (1.15961) and the 200 EMA (1.16130). Source: TradingView The Euro rose quite a bit in early trading on Thursday, but with the jobs report coming out, I’m watching the 1.1640 level. That was where we had seen that massive sell-off. I’m looking for signs of exhaustion to short this. Now, I don’t want to get married to this position. This is not going to be a long-term position by any stretch of the imagination, but I think it’s difficult to imagine a market that’s just truly going to fly ahead of that Nonfarm Payroll announcement. It could, obviously, but I’m looking for signs of exhaustion to start shorting.
USD/CAD Technical Analysis USD/CAD price chart showing price at 1.37935, trading below both the 50 EMA (1.38520) and the 200 EMA (1.38648). Source: TradingView The dollar against the Canadian dollar has fallen pretty significantly over the last couple of days, but we have a gap down here at 1.3780 that I’m watching very closely. If we get a bounce from here, I’m willing to go long. Now, keep in mind both of these countries produce their jobs report at the same time on Friday morning, so I’ll be out of this position no matter what it does before then.
With that being said, as long as we get some type of bounce, I’m willing to play that V-shaped pattern here as the interest rate differential continues to favor the United States despite the fact that rates have dropped a little bit early in the session.
USD/CHF Technical Analysis USD/CHF price chart showing price at 0.80707, breaking below the 200 EMA (0.80846) and the 50 EMA (0.81103). Source: TradingView Finally, the USD/CHF pair. This is one I’ve been long for a very long time. It is falling apart. Again, like the Euro, I’m kind of watching to see a little bit of exhaustion somewhere right around the 0.8050 level. I’ll be watching to see if we get a bounce. That’s a place I could go long. But again, I don’t want to be in the dollar when the Nonfarm Payroll announcement comes out. So all of these will be very short-term trades at best.
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Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
The USD/CHF pair advances some 0.13% on Wednesday as the Greenback holds within familiar levels, after depreciating versus the Japanese Yen amid speculation of an intervention in the FX markets. This dragged the pair from around five-week highs to the 0.8120 area.
USD/CHF Price Forecast: Technical OutlookPrice action shows USD/CHF is poised to trade sideways after bouncing off a two-month low of 0.7949 on August 20, to current exchange rate levels. From a market structure perspective, the pair is on a corrective leg before extending the downtrend.
The Relative Strength Index (RSI) turned bullish, aiming higher and hinting at further upside.
For a bullish continuation, USD/CHF must clear the high of the day at 0.8156 ahead of challenging 0.8200. A decisive breakout will expose the current year high at 0.8207, followed by the psychological 0.8250 ahead of 0.8300.
On the other hand, if USD/CHF retreats to 0.8100, it opens the door for another lower leg. Below is the 50-day Simple Moving Average (SMA) at 0.8091, followed by the July 30 swing low of 0.8039. Once hurdled, the next stop is the 100-day SMA at 0.7990.
USD/CHF Price Chart – Daily
USD/CHF daily chart Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the New Zealand Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD0.04%0.20%-0.94%-0.37%-0.36%0.70%0.15%EUR-0.04%0.16%-0.97%-0.41%-0.39%0.65%0.11%GBP-0.20%-0.16%-1.11%-0.57%-0.56%0.44%-0.05%JPY0.94%0.97%1.11%0.56%0.57%1.63%1.08%CAD0.37%0.41%0.57%-0.56%0.01%1.06%0.53%AUD0.36%0.39%0.56%-0.57%-0.01%1.02%0.53%NZD-0.70%-0.65%-0.44%-1.63%-1.06%-1.02%-0.54%CHF-0.15%-0.11%0.05%-1.08%-0.53%-0.53%0.54% 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).
Swiss Franc Technical Forecast: USD/CHF Short-term Trade Levels
USD/CHF has rallied 2.6% from the August low, extending the recovery to a five-week high.
The break of the July downtrend is attempting to stabilize above the median line as the advance encounters its first meaningful resistance zone.
A sustained push higher would expose a renewed challenge of the yearly highs while failure to hold would raise the risk of a deeper pullback toward August support.
Swiss inflation and GDP data precede Friday’s U.S. employment report, highlighting event risk into the weekly close.
Resistance 8100/25 (key), 8200/15, 8333- Support 8041, 8009 (key), 7910/27
USD/CHF has staged an impressive recovery from the August lows, with a break of the July downtrend accelerating the advance to a five-week high. The move has strengthened the near-term technical backdrop as bulls attempt to establish a foothold above pivotal resistance. The focus heading into the weekly close is on whether buyers can sustain the breakout and force another challenge of the yearly highs or whether the latest push begins to lose traction. Battles lines drawn on the USD/CHF short-term technical charts heading into NFPs.
Review my latest Weekly Strategy Webinar for an in-depth breakdown of this USD/CHF setup and more. Join live on Monday’s at 8:30am EST.
Swiss Franc Price Chart – USD/CHF Daily
Chart Prepared by Michael Boutros, Sr. Technical Strategist; USD/CHF on TradingView
Technical Outlook: In last month’s Swiss Franc Short-term Outlook we noted that USD/CHF was, “approaching major technical resistance at the upper bounds of the yearly uptrend. From a trading standpoint, look to reduce long-exposure / raise protective stops on a stretch towards the 82-handle- losses would need to be limited to 8083 IF price is heading higher on this stretch..” USD/CHF registered an intraday high at 8207 three-days with an outside daily reversal off the high plunging more than 3.1%.
A rebound off channel support on August 20 has now broken above the July downtrend with the rally extending 2.6% off the lows. The bulls are trying to secure a pivot back above the median line of the yearly uptrend with immediate focus on the 8101/25 pivot zone- a region defined by the November / June high-day closes (HDC), the 61.8% extension of the 2022 decline, the August high close (HC), and the November high. The focus into the start of the month is on possible inflection off this zone and the bulls will need stabilize above the median to stay in control here.
Swiss Franc Price Chart – USD/CHF 240min
Chart Prepared by Michael Boutros, Sr. Technical Strategist; USD/CHF on TradingView
Notes: A closer look at Swisse price action shows USD/CHF breaking out of the July channel with price exhausting today at the 78.6% retracement of the decline off the yearly high at 8152. A break higher from here exposes key resistance at 8200/15- a region defined by the 100% extension of the January advance, the yearly high, and the 38.2% retracement of the 2025 decline. Note that the 75% parallel (daily chart) converges on this threshold over the next few weeks and a breach / close above this slope would be needed to fuel the next major leg of the advance. Subsequent resistance objectives are eyed at the upper parallel near 8300 and the 2023 low at 8333.
Initial support now rests back at 8101/24 and is backed by the weekly / monthly swing low at 8069. Note that the late-August support line converges on this level over the next few days. Key support rests with the January / March swing highs at 8041/42 and losses below this level would suggest a more significant near-term high is in place, and a lager reversal is underway. Subsequent support rests with the April high-day close (HDC) / July low at 8009 backed by the 200-day moving average and the objective yearly open at 7927/36.
Bottom line: USD/CHF has rallied to a five-week high with the bulls attempting to punch through a key pivot zone into the start of the month. From a trading standpoint, losses should be limited to 8069 IF price is heading higher on this stretch with a close above 8152 needed to fuel another run at the yearly highs. Look for another meaningful reaction on a test of the 82-handle for guidance IF reached.
The economic calendar heats up into the close of the week, with Swiss CPI and second-quarter GDP figures on tap tomorrow followed by the highly anticipated U.S. Non-Farm Payrolls report on Friday. While the Swiss data could generate near-term volatility, the broader focus remains firmly on the U.S. policy outlook as markets assess the timing of the Fed’s next move. Friday’s employment report will provide an important test for rate expectations, with attention then shifting back to inflation next week amid another round of key U.S. price data. Stay nimble into the releases and watch the weekly close for guidance. Review my latest Swiss Franc Weekly Forecast for a closer look at the longer-term USD/CHF technical trade levels.
USD/CHF Key Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
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--- Written by Michael Boutros, Sr Technical Strategist
EUR/USD, USD/CAD and USD/CHF approach key technical levels as traders track US yields and prepare for Friday’s potentially market-moving jobs data.
In this article:EUR/USD
+0.01%
EUR/USD ForecastUSD/CAD
-0.12%
USD/CAD ForecastUSD/CHF
+0.15%
EUR/USD Technical Analysis
EUR/USD price chart displaying trading near 1.15811 with the 10-year Treasury yield at 4.780%. Source: TradingView The euro has been pretty negative in the early part of the session, but we are starting to turn things around a little bit here as we head into the US session. With this, I think we have to look at this as a market that may try to recover a little bit.
With interest rates in America drifting lower, I’m still going to watch the 1.16 level. I think that’s an area that could end up being a little bit of a barrier. I still prefer the US dollar over the euro. A nice bounce here, signs of exhaustion, would be a classic continuation play.
USD/CAD Technical Analysis
USD/CAD price chart with the 50-period EMA at 1.38975 and 200-period EMA at 1.38748. Source: TradingView The US dollar has been strong against the Canadian dollar, and I think that probably continues. So, I’ll be watching the 1.3910 level for a potential bounce that I can take advantage of.
In this environment, the trade war between the United States and America continues to be a major factor. Plus, we have to keep in mind that both of these countries release their jobs numbers on Friday, so we could get a little bit of a wiggle here. I plan on taking advantage of it.
USD/CHF Technical Analysis USD/CHF price chart showing the 200-period EMA at 0.80766 and Fibonacci retracement levels. Source: TradingView In the US dollar against the Swiss franc pair, this has been a long-term holding of mine for some time. I think we have a situation here where traders will continue to look at this as a buy-on-the-dip scenario right around 0.8120 and 0.81. Both areas I’m looking to buy some type of bounce if I get the opportunity. The 0.8160 level above is short-term resistance that, if broken, could get a bit of FOMO trading in this pair for short-term traders to join the trend.
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Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
The USD/CHF advanced on Friday, registering a modest 0.07% gain, trading at 0.8010. During the week, the pair finished with losses of over 1.49%, triggered by a drop in US yields on Wednesday, as the US Treasury tries to cap elevated yields on the 30-year bond.
USD/CHF Price Forecast: Technical OutlookUSD/CHF price action shows some “sort” of consolidation, capped by the 50- and 100-day Simple Moving Averages (SMAs) at 0.8086 and 0.7976. Momentum shifted downwards as seen in the Relative Strength Index (RSI).
Even though price action could’ve opened the door for a “mean reversion” trade after the sudden drop, the RSI suggests that bears are in charge and caution is warranted.
For a bearish continuation, the first support level for USD/CHF is 0.8000. Below the first support is the 100-day SMA, followed by the August 20 low of 0.7949, and then the 200-day SMA at 0.7933. A breach of the latter will expose 0.7900.
If USDCHF makes a U-turn and edges higher, the first resistance is the 50-day SMA at 0.8086. Above is 0.8100, followed by the August 13 high of 0.8147, before testing 0.8200.
USD/CHF Price Chart – Daily
USD/CHF daily chart 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 US Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.97%-0.88%-0.21%-0.79%-1.15%-1.41%-1.34%EUR0.97%0.22%0.74%0.18%-0.24%-0.50%-0.38%GBP0.88%-0.22%0.59%-0.05%-0.45%-0.72%-0.65%JPY0.21%-0.74%-0.59%-0.61%-0.92%-1.21%-1.13%CAD0.79%-0.18%0.05%0.61%-0.34%-0.70%-0.60%AUD1.15%0.24%0.45%0.92%0.34%-0.27%-0.21%NZD1.41%0.50%0.72%1.21%0.70%0.27%0.07%CHF1.34%0.38%0.65%1.13%0.60%0.21%-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).
Treasury intervention raises questions over dollar haven status
Swiss franc outperforms as safe-haven demand builds
Switzerland’s balance sheet reinforces haven case
USD/CHF technicals favour bearish bias
Swiss franc’s haven credentials strengthened
The Swiss franc’s credentials as the last true bastion of safe-haven status in the FX universe have been reinforced by events this week.
On Wednesday, the franc was the best-performing G10 currency by some distance following the US Treasury’s announcement that it would double the size of long-dated Treasury buybacks.
While USD/CHF bounced modestly on Thursday as we saw a retracement in the move in long-end Treasury yields, the broader message is pretty obvious. If policymakers in the US are becoming more willing to actively combat market forces when it doesn’t politically suit, the franc stands out as the one true developed-market currency haven given its fundamental strength.
Looking at the charts, the question is whether more interventionist policies like these could provide the catalyst for a broader resumption of the bearish USD/CHF trend seen over recent decades.
Treasury intervention risks grow
This week’s developments suggest tinkering at the long end of the Treasury curve by Treasury may evolve into something far more significant, potentially the tsunami of interventionist activity I described in a separate analysis piece yesterday.
After announcing that long-dated Treasury buybacks would be doubled to at least $4 billion per operation a day earlier, Treasury Secretary Scott Bessent went further on Thursday, saying purchases could be increased beyond that level.
More importantly, Bessent was explicit that part of the objective was signalling that long-bond yields do not reflect underlying fundamentals. That is an extraordinary statement given the US fiscal position. It effectively amounts to Bessent saying he knows better than the market and is prepared to actively combat bearish forces when yields move to levels the government finds politically or fiscally uncomfortable.
Given the market reaction to the statement was to sell the long end, what was pitched as an operation to improve liquidity risks becoming something far more consequential for the US dollar. If Treasury is seen to be developing a broader suite of measures designed to push long-dated yields lower whenever market forces drive them higher, it risks eroding confidence in the dollar’s safe-haven credentials.
With US government debt already enormous and the cost of servicing it rising rapidly, the incentive to keep long-term borrowing costs contained is obvious.
Haven flows take over
Given the risk of more interventionist policies being used to artificially suppress bond yields, it is only natural that the investment community would seek out alternatives to the US dollar. Based on what we saw earlier this week, the Swiss franc was clearly among them.
Looking at the correlation matrix below, the five-day window suggests what had been a modestly positive relationship between USD/CHF, yield differentials and US Treasury yield movements has abruptly shifted over the past week.
Source: TradingView, FOREX.com
Instead, USD/CHF has maintained a strong inverse relationship with other safe havens such as gold, while its relationship with volatility measures such as VIX futures has strengthened sharply. That points to a market increasingly trading the pair through the lens of safe-haven demand rather than relative rates alone.
You could argue that the initial reaction suggests the franc could be a significant beneficiary if the dollar debasement narrative heard earlier this year, and through parts of 2025, begins to manifest itself again.
Fundamentals back the franc
The Swiss franc’s appeal is not just about reputation. The country’s underlying finances are simply a lot stronger than those of the US.
Switzerland is a major net creditor to the rest of the world, with its net international investment position sitting at around 111% of GDP in 2025. In simple terms, the Swiss own far more assets overseas than foreigners own in Switzerland.
Source: FRED, SNB, SECO, FOREX.com
The US is the complete opposite, with a net international investment position of roughly -71% of GDP. So while the dollar has the benefit of being the world’s reserve currency, the US still relies heavily on foreign investors to fund its debt. Countries such as Switzerland, with large pools of savings and overseas assets, are effectively on the other side of that trade.
Source: FRED, FOREX.com
The government debt numbers tell a similar story. Central government debt in Switzerland stood at just 22.3% of GDP in 2024, compared with 115.8% in the US.
That divide is key in the safe haven debate. Switzerland has low government debt, an extremely strong international investment position and the kind of savings base that naturally supports lower borrowing costs. Relative to the States, it’s like chalk and cheese.
USD/CHF bearish bias remains
Source: TradingView
You can clearly see the reaction to Treasury’s announcement on Wednesday with a mammoth bearish bar breaking the minor uptrend that had been in place since early July, along with horizontal support at 0.8013.
The move stalled just shy of uptrend support running from the January low before reversing on Thursday, reclaiming the 100-day moving average in the process before moving back towards former support at 0.8013.
Despite the recovery, until proven otherwise, the rebound looks something akin to a dead-cat bounce.
0.8013 is the immediate focal point overhead. If the price remains beneath that level, it could be used to initiate fresh shorts with a stop above for protection, targeting a retest of 0.7950, where the pair reversed from on Thursday.
Just beneath that sits the January uptrend, along with the key 200-day moving average and horizontal support at 0.7925, making the area from the uptrend down to 0.7925 the key support zone to watch underneath where the pair trades.
If we were to see a sustained break beneath the lower end of that zone, it could open the path for a much more pronounced bearish unwind, putting levels such as 0.7796 and 0.7750 in play initially.
Of course, if the pair were to extend its rebound back above 0.8013 and hold there, the option is there to initiate longs with a tight stop beneath 0.8013 for protection. Initial targets would be 0.8050, where the price bounced on numerous occasions over recent months prior to the breakdown, followed by former uptrend support around 0.8065 today.
The message from the oscillators favours selling into strength rather than buying dips. RSI (14) continues to set lower highs and lower lows and sits beneath the neutral 50 level at 39. That message is confirmed by MACD, which has crossed beneath its signal line, flipped negative and continues to trend lower.
Given the fundamental backdrop and technical picture, shorts are favoured over longs in the near term.
USD/CHF regains ground on Thursday as the US Dollar (USD) stabilises following the previous day’s broad weakness, which pushed the pair below the 0.8000 psychological mark and to its lowest level since June 17, weakening the near-term bullish structure. At the time of writing, USD/CHF trades around 0.7998 after bouncing from an intraday low of 0.7949.
The pair lost 1.83% on Wednesday and slipped below the 50-day Simple Moving Average (SMA) at 0.8085 for the first time since June 2. However, buyers re-emerged after a brief dip below the 100-day SMA at 0.7975, helping the pair regain ground.
USD/CHF is hovering just below the 0.8000 horizontal barrier. Momentum remains fragile, with the Relative Strength Index (RSI) at 38.2 and the Moving Average Convergence Divergence (MACD) holding below zero, suggesting that recovery attempts could struggle against nearby resistance.
On the topside, initial resistance emerges at the 0.8000 mark, followed by the support-turned-resistance zone near 0.8050 and the 50-day SMA at 0.8085. On the downside, the 100-day SMA at 0.7975 offers immediate support, ahead of the 200-day SMA at 0.7933. A deeper decline could expose the horizontal floor at 0.7850.
US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
USDEURGBPJPYCADAUDNZDCHFUSD-0.03%-0.23%0.44%-0.22%0.05%-0.24%0.29%EUR0.03%-0.21%0.48%-0.18%0.06%-0.23%0.31%GBP0.23%0.21%0.69%0.01%0.27%-0.01%0.51%JPY-0.44%-0.48%-0.69%-0.66%-0.39%-0.70%-0.16%CAD0.22%0.18%-0.01%0.66%0.28%-0.02%0.50%AUD-0.05%-0.06%-0.27%0.39%-0.28%-0.28%0.23%NZD0.24%0.23%0.00%0.70%0.02%0.28%0.55%CHF-0.29%-0.31%-0.51%0.16%-0.50%-0.23%-0.55% 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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The USD/CHF pair tumbles nearly 2% on Wednesday as a US Treasury buyback announcement sends the Greenback into a tailspin, while US Treasury yields also dive. The pair trades at 0.7979 after reaching a high of 0.8128.
From a technical perspective, USD/CHF is upward-biased after it bottomed at 0.7604 in late January 2026. Since then, the pair has rallied towards a yearly high above 0.8200, before the US Treasury unveiled its bond buyback. This pushed USD/CHF below key support levels, including the 50-day Simple Moving Average (SMA) at 0.8084, and towards the 100-day SMA at 0.7975.
In the short term, momentum shifted bearish as the Relative Strength Index (RSI) fell from around 51 to 36.48. This suggests that sellers are gaining steam.
For a bearish continuation, USD/CHF must clear the 100-day SMA, followed by the 200-day SMA, at 0.7932. On further weakness, the next stop is 0.7900.
On the flip side, buyers must reclaim the 0.8000 level before challenging the March 31 high of 0.8042. Above lies the 50-day SMA at 0.8084, followed by the August 13 high of 0.8147.
Swiss Franc FAQs The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone.
The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.
Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate.
As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
The USD/CHF pair recovers some ground on Tuesday after testing the 50-day Simple Moving Average (SMA) of 0.7866 along with the bottom trendline of the ‘bearish flag’, which so far contained price action amid the lack of conviction of buyers and sellers, regarding the trend’s direction. The pair trades at 0.7960, near the day's highs, up 0.82%.
Per market structure, USD/CHF is neutral to upward-biased, with momentum favoring buyers, as depicted by the Relative Strength Index (RSI), which is above its 50 neutral level and trending higher.
For a bullish continuation, the USD/CHF must surpass August’s 17 high of 0.8135. Once cleared, it opens the path to challenge the top trendline of the ‘bearish flag'. A breach of the latter will negate the ‘bearish’ chart pattern and pave the way towards 0.8200, followed by the yearly high of 0.8207.
On the downside, if USD/CHF fails to clear 0.8135 and finishes the session below 0.8100, this could exacerbate a move to the 50-day SMA at 0.8084. A move beneath clears the path to the July 30 swing low of 0.8049, ahead of 0.8000.
Swiss Franc FAQs The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone.
The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.
Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate.
As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
USD/CHF rebounds on Monday as the US Dollar (USD) recovers from its early losses. At the time of writing, the pair trades around 0.8112 after touching an intraday low of 0.8072, its lowest level in over a week.
The US Dollar Index (DXY), which tracks the Greenback's value against a basket of six major currencies, trades around 99.60 after recovering from 99.30, its lowest level since June 5.
Analysts at MUFG/BTMU point out that the Dollar index “has not yet tested support from the 200-day moving average, which comes in at around 99.20,” underscoring that the broader gauge of Dollar strength is still trading above a key technical level. At the same time, they note that “the run of softer US economic data has encouraged market participants to scale back Fed rate hike expectations,” suggesting that the fundamental backdrop for sustained Dollar strength is becoming less supportive.
From a technical perspective, USD/CHF retains a mild bullish bias after reclaiming the key moving averages and the 0.8000 psychological mark in early June. However, price action has since turned largely sideways as momentum indicators soften.
The Relative Strength Index (RSI) on the daily chart stands near the neutral 52 level, while the Moving Average Convergence Divergence (MACD) indicator hovers slightly below zero. The Average Directional Index (ADX) at 16 also points to weak trend strength, inting at a consolidative tone rather than a decisive trend continuation.
On the upside, initial resistance is located at the 0.8150 horizontal level, followed by the stronger 0.8200 barrier. A sustained break above 0.8200 could restore bullish momentum and open the door to additional gains.
On the downside, the 50-day Simple Moving Average (SMA) at 0.8082 offers immediate support, followed by the 0.8000 psychological mark. A break below this area would expose the 100-day SMA at 0.7974 and the 200-day SMA at 0.7932.
Swiss Franc FAQs The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone.
The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.
Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate.
As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
The USD/CHF turns negative on the day, snapping a four-day winning streak, yet it remains above 0.8100, suggesting further upside is possible if buyers reclaim key resistance levels. At the time of writing, the pair trades at a 0.12% loss.
USD/CHF Price Forecast: Technical OutlookThe ‘bearish flag’ remains in play. Although the pair refreshed a two-day low, closing Friday’s session near the week's highs, it could open the door to a breakout to the upside and a resumption of the uptrend.
The Relative Strength Index (RSI) is bullish but has turned flat, suggesting additional sideways trading lies ahead.
If USD/CHF breaks above 0.8150, the next area of interest would be the July 29 high at 0.8207. Once surpassed the next stop is the June 19, 2925 high at 0.8215, followed by the June 4, 2025 peak at 0.8250. Up next is 0.8300.
Downwards, the first support for USD/CHF is the low of the day (LOD) at 0.8103, which opens the path for a move lower to the 50-day Simple Moving Average (SMA) at 0.8079. The next support level would be the July 30 swing low of 0.8035, ahead of 0.8000.
USD/CHF Price Char – Daily
USD/CHF daily chart
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.30%-0.33%-0.10%-0.38%-0.28%-0.57%-0.13%EUR0.30%-0.03%0.20%-0.11%0.02%-0.27%0.17%GBP0.33%0.03%0.24%-0.08%0.05%-0.23%0.21%JPY0.10%-0.20%-0.24%-0.28%-0.20%-0.51%-0.03%CAD0.38%0.11%0.08%0.28%0.09%-0.19%0.26%AUD0.28%-0.02%-0.05%0.20%-0.09%-0.29%0.17%NZD0.57%0.27%0.23%0.51%0.19%0.29%0.47%CHF0.13%-0.17%-0.21%0.03%-0.26%-0.17%-0.47%
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
The USD/CHF trades near the top trendline of a ‘bearish-flag,’ holds steady at around 0.8034, following the release of good inflation data on the producer side.
Price action shows that the bullish market structure of successive higher highs and higher lows remains intact, suggesting further upside. However, momentum flattened despite bullish conditions, as indicated by the Relative Strength Index (RSI). This suggests that buyers need to be cautious about a potential pullback if USD/CHF tumbles below 0.8000.
For a bullish continuation, the pair must clear the top trendline of the bearish flag near 0.8140/45 before launching an attack towards 0.8200. Once those levels are surpassed, the next stop is the June 19, 2025, daily high at 0.8215, followed by the June 4 2025, peak at 0.8250.
Downwards, the first support is the August 12 low of the day (LOD) at 0.8094. Once surpassed, it opens the door towards the 50-day Simple Moving Average (SMA) at 0.8076.
Swiss Franc FAQs
The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone.
The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.
Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate.
As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
The USD/CHF edges higher by some 0.30% on Wednesday, refreshing ten-day highs of 0.8138, as the uptrend is poised to extend if it clears key resistance levels.
USD/CHF Price Forecast: Technical outlookThe market structure of successive higher highs and higher lows continues to be respected, indicating that the uptrend remains in place. Nevertheless, it seems that a bearish flag is forming, which could open the door for a deeper pullback before the USD/CHF resumes its uptrend.
Momentum remains bullish as depicted by the Relative Strength Index (RSI). But if USD/CHF falls below the 50-day Simple Moving Average (SMA) at 0.8071, it opens the door to a retracement, initially to 0.8042, ahead of 0.8000.
Conversely, if the pair surpasses the top trendline of the bearish flag, this clears the way towards 0.8200 and the yearly peak at 0.8205. Once those two levels are removed, buyers could challenge the psychological levels of 0.8250 and 0.8300.
USD/CHF Price Chart – Daily
USD/CHF daily chart Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the New Zealand Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD0.17%0.13%0.13%0.16%0.02%0.39%0.36%EUR-0.17%-0.04%-0.06%-0.02%-0.19%0.24%0.19%GBP-0.13%0.04%-0.02%0.00%-0.15%0.26%0.23%JPY-0.13%0.06%0.02%0.02%-0.12%0.28%0.24%CAD-0.16%0.02%-0.01%-0.02%-0.15%0.27%0.21%AUD-0.02%0.19%0.15%0.12%0.15%0.39%0.38%NZD-0.39%-0.24%-0.26%-0.28%-0.27%-0.39%-0.05%CHF-0.36%-0.19%-0.23%-0.24%-0.21%-0.38%0.05% 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).
USD/CHF trades with a positive bias on Tuesday as the US Dollar (USD) consolidates its recent gains ahead of Wednesday’s US Consumer Price Index (CPI) data. Price action has stabilized above the 50-day Simple Moving Average (SMA) following a sharp pullback from above 0.8200 in late July.
At the time of writing, the pair trades around 0.8113, extending gains for a second consecutive day. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, hovers around 99.80, holding above the 100-day SMA at 99.75.
USD/CHF holds a mildly positive technical tone above the 50-day SMA at 0.8067, though the 21-day SMA at 0.8112 keeps gains in check.
The 100-day SMA at 0.7968 supports the broader recovery structure, while the Relative Strength Index (RSI) near 52 points to balanced momentum after cooling from earlier overbought levels.
The Moving Average Convergence Divergence (MACD) remains in negative territory, suggesting that upside momentum has weakened. However, the broader tone stays constructive as long as the pair holds above the 50-day SMA.
A sustained break above the 21-day SMA could open the door to 0.8150, followed by the 0.8200 psychological mark. On the downside, a move below the 50-day SMA would expose the 0.8000 psychological level. Further losses could bring the 100-day SMA at 0.7968 and the horizontal support at 0.7900 into focus.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Economic Indicator Consumer Price Index (MoM) Inflationary or deflationary tendencies are measured by periodically summing the prices of a basket of representative goods and services and presenting the data as The Consumer Price Index (CPI). CPI data is compiled on a monthly basis and released by the US Department of Labor Statistics. The MoM figure compares the prices of goods in the reference month to the previous month.The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as bullish for the US Dollar (USD), while a low reading is seen as bearish.
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The US Federal Reserve (Fed) has a dual mandate of maintaining price stability and maximum employment. According to such mandate, inflation should be at around 2% YoY and has become the weakest pillar of the central bank’s directive ever since the world suffered a pandemic, which extends to these days. Price pressures keep rising amid supply-chain issues and bottlenecks, with the Consumer Price Index (CPI) hanging at multi-decade highs. The Fed has already taken measures to tame inflation and is expected to maintain an aggressive stance in the foreseeable future.
The USD/CHF pair struggles to attract any meaningful buyers and remains on the back foot below the 0.8100 mark through the first half of the European session on Monday.
Friday's disappointing US Nonfarm Payrolls (NFP) further tempered bets of an immediate interest rate hike by the US Federal Reserve (Fed), which, in turn, is seen undermining the US Dollar (USD) and capping the USD/CHF pair. Investors, however, are still pricing in the possibility that the US central bank will raise borrowing costs by the end of this year amid inflation risks stemming from energy supply disruptions.
Apart from this, persistent geopolitical uncertainties might hold back traders from placing aggressive bearish bets on the safe-haven USD and contribute to limiting losses for the USD/CHF pair. The market focus now shifts to the release of the US inflation figures, due this week. The crucial data will be looked for fresh cues about the Fed's future policy path, which, in turn, will play a key role in influencing the USD demand.
From a technical perspective, the USD/CHF pair is holding below the 23.6% Fibonacci retracement level of the May-July rally, albeit bears await a break below the 50-day Simple Moving Average (SMA) before placing fresh bets. Meanwhile, the Relative Strength Index (RSI) hovers just below the 50 line and the Moving Average Convergence Divergence (MACD) remains slightly negative, suggesting upside momentum is tentative.
Hence, a break below the 50-day SMA will be seen as a key trigger for USD/CHF bears and pave the way for a decline to a dense Fibo. support band between the 38.2% retracement at 0.8037 and the 61.8% level at 0.7932 ahead of structural floors at 0.7857 and 0.7761. On the topside, initial resistance comes at the 23.6% Fibo. retracement at 0.8103, and a break above this barrier would expose the next upside objective at the cycle high zone around 0.8208.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
USD/CHF daily chart
US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
USDEURGBPJPYCADAUDNZDCHFUSD-0.04%-0.07%0.48%-0.02%-0.05%-0.01%0.00%EUR0.04%-0.03%0.53%0.03%-0.02%0.02%0.04%GBP0.07%0.03%0.58%0.04%0.06%0.05%0.07%JPY-0.48%-0.53%-0.58%-0.54%-0.57%-0.56%-0.49%CAD0.02%-0.03%-0.04%0.54%-0.09%0.03%0.02%AUD0.05%0.02%-0.06%0.57%0.09%0.03%0.04%NZD0.00%-0.02%-0.05%0.56%-0.03%-0.03%0.03%CHF-0.01%-0.04%-0.07%0.49%-0.02%-0.04%-0.03% 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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The US Dollar (USD) pares gains against the Swiss Franc (CHF) on Friday, with the USD/CHF pair drifting towards the 0.8100 level, after rejection at 0.8136 highs on Thursday. The Greenback is still on track for a 0.3% rally this week, but investors’ cautiousness ahead of the release of the key US Nonfarm Payrolls (NFP) report is keeping USD bulls in check on Friday.
Analysts at Deutsche Bank expect only a modest improvement in July's payrolls, looking for “a slight uptick in headline (+65k forecast vs. +57k previously) and private (+65k vs. +49k) payrolls.” They note that such an outcome “would put the latest readings below the 3- and 6-month moving averages, consistent with the recent slowing in the weekly ADP reports,” underscoring a gradual cooling in hiring momentum.
In Switzerland, the SECO Consumer Climate Index, released earlier in the day, has shown a slight improvement to -35 in Q3, from -40 in the previous quarter, although it remains close to historic lows. The impact on the Swissie has been minimal.
Technical Analysis: The Near-term bias remains positive
USD/CHF trades at 0.8105, after retreating from 0.813, yet with price action showing a constructive pattern from July 30 lows. Momentum is positive, although showing fading bullish traction, with the 4-hour Relative Strength Index (14) hovering around a neutral 50 and the Moving Average Convergence Divergence (MACD) line marginally above its signal and zero.
US Dollar bears are testing support at a previous resistance zone above 0.8100. Further down, the trendline resistance from the mentioned July 30 low, now around 0.8075, and the bottom of August's trading range, at the 0.8055-0.8060 area, are likely to test downside momentum.
On the topside, initial resistance emerges at Thursday's high of 0.8124 and the July 30 high at 0.8175 ahead of the 13-month high, at 0.8205 hit in late July.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
The USD/CHF snaps two days of losses and rises by over 0.60% on Thursday after solid US jobs data. Also, buyers stepped in at key support at the 50-day Simple Moving Average (SMA) of 0.8052, pushing the pair back above the 0.8100 threshold.
USD/CHF Price Forecast: Technical outlookThe USD/CHF uptrend remains intact, with the market structure of higher highs and higher lows, continued to be respected. Also, momentum, as depicted in the Relative Strength Index (RSI) shows that buyers are in control, as the index crosses above its 50-neutral level.
Given the backdrop, the pair faces key resistance at 0.8150. Once breached, a move towards 0.8200 is on the cards. Above lies the yearly high of 0.8207, which once cleared, would extend the USD/CHF rally towards the June 4, 2025, cycle high at 0.8250. Up next is 0.8300.
On the downside, the first support for USD/CHF would be at 0.8100. If spot prices fall below the 50-day SMA at 0.8052 emerges as the next floor level, followed by the 0.8000 mark.
USD/CHF Price Chart – Daily
USD/CHF daily chart Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the Japanese Yen.
USDEURGBPJPYCADAUDNZDCHFUSD0.30%0.11%0.44%0.06%0.39%0.34%0.69%EUR-0.30%-0.19%0.15%-0.24%0.07%0.05%0.39%GBP-0.11%0.19%0.34%-0.06%0.26%0.22%0.59%JPY-0.44%-0.15%-0.34%-0.39%-0.06%-0.09%0.27%CAD-0.06%0.24%0.06%0.39%0.33%0.31%0.65%AUD-0.39%-0.07%-0.26%0.06%-0.33%-0.02%0.30%NZD-0.34%-0.05%-0.22%0.09%-0.31%0.02%0.38%CHF-0.69%-0.39%-0.59%-0.27%-0.65%-0.30%-0.38% 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).
Swiss Franc Technical Outlook: USD/CHF Multi-Timeframe Analysis USD/CHF is pressing against confluent resistance on the monthly, weekly, and daily charts, keeping the Swiss franc on the back foot as it coils. Michael Boutros, Senior Market Analyst at FOREX.com, breaks down the multi time frame picture for USD/CHF and the US data steering the US dollar. He walks through what a break of the weekly opening range would mean for USD/CHF, and why the broader dollar uptrend stays intact even on a pullback, leaving the Swiss franc under pressure. He also looks at how the upcoming U.S. nonfarm payrolls and U.S. consumer price index reports could move the U.S. dollar, and how shifting Federal Reserve rate expectations have taken momentum out of the greenback.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
Key USD/CHF Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts US Dollar Short-term Outlook: USD Correction Pressures Pivotal Support Euro Short-term Outlook: EUR/USD Breakout Risk Builds Into Month-End Canadian Dollar Short-term Outlook: USD/CAD Rebound Challenges the July Downtrend Australian Dollar Outlook: AUD/USD Rally Tests Make-or-Break Resistance Japanese Yen Short-term Outlook: USD/JPY Defends the Uptrend as the Range Tightens British Pound Short-term Outlook: GBP/USD Breakout Attempts Major Trend Reversal --- Written by Michael Boutros, Senior Technical Strategist
The USD/CHF pair attracts some buyers near the 0.8060 region on Thursday amid a modest US Dollar (USD) uptick. Spot prices, for now, seem to have snapped a two-day losing streak and trade around the 0.8080-0.8085 region during the first half of the European session, up nearly 0.15% for the day.
From a technical perspective, the move up along an upward-sloping channel points to a well-established bullish trend. Adding to this, the recent breakout above the 0.8000 psychological mark supports prospects for a further near-term appreciation of the USD/CHF pair. Meanwhile, the Relative Strength Index (14) sits near a neutral 48.7, hinting at balanced momentum.
Moreover, the Moving Average Convergence Divergence (MACD) remains slightly negative, which only mildly tempers the constructive tone. Nevertheless, the setup suggests room for further gains before encountering a more significant cap. The USD/CHF pair is placed closer to the middle of the structure, with overhead supply defined by the channel top at 0.8219,
A daily close above this level would signal an acceleration of the uptrend and open the way to fresh highs within the broader bullish channel environment. On the downside, initial demand is located at the channel bottom around 0.7936, where a break would expose deeper support at the prior structural base near 0.7692 and would weaken the current bullish narrative.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
USD/CHF daily chart
US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD0.07%0.08%0.06%0.02%0.29%0.25%0.14%EUR-0.07%0.00%0.00%-0.05%0.19%0.19%0.07%GBP-0.08%-0.00%0.00%-0.05%0.19%0.17%0.08%JPY-0.06%0.00%0.00%-0.04%0.21%0.20%0.09%CAD-0.02%0.05%0.05%0.04%0.26%0.25%0.12%AUD-0.29%-0.19%-0.19%-0.21%-0.26%-0.00%-0.12%NZD-0.25%-0.19%-0.17%-0.20%-0.25%0.00%-0.08%CHF-0.14%-0.07%-0.08%-0.09%-0.12%0.12%0.08% 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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The USD/CHF pair reverses a modest intraday dip and touches a fresh daily high during the early European session on Wednesday, though it remains below the 0.8100 mark. The US Dollar (USD) sticks to its negative bias amid hopes for a US-Iran deal and receding Federal Reserve (Fed) rate-hike expectations, which is seen acting as a headwind for the USD/CHF pair.
Traders, however, seem hesitant to place aggressive bearish bets on the USD and await the release of the US monthly jobs data – popularly known as the Nonfarm Payrolls (NFP) report on Friday – for more cues about the Fed's policy path. This, along with further developments surrounding the Middle East crisis, will drive the buck and provide a fresh impetus to the USD/CHF pair.
From a technical perspective, spot prices hold above the 23.6% Fibonacci level of the recent pullback from the year-to-date high – levels above the 0.8200 mark set in July. The Moving Average Convergence Divergence (MACD) has turned marginally positive around the zero line, while the Relative Strength Index (RSI) near 52 hints at modest, rather than decisive, bullish momentum.
This suggests that upside attempts are still constrained by the nearby cluster of overhead resistance near the 0.8100 confluence – comprising the 100-hour Exponential Moving Average (EMA) and the 38.2% Fibo. level. Further barriers emerge at the 50.0% level at 0.8121 and the 61.8% retracement at 0.8141, before stronger resistance at 0.8169 and the swing high zone near 0.8205.
On the downside, immediate support is seen at the 23.6% retracement at 0.8077, with a break exposing the cycle low region around 0.8037 as the next bearish target.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
USD/CHF 1-hour chart
US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.04%-0.09%0.02%0.06%0.00%0.47%0.06%EUR0.04%-0.04%0.07%0.10%0.05%0.50%0.09%GBP0.09%0.04%0.11%0.14%0.07%0.55%0.14%JPY-0.02%-0.07%-0.11%0.05%-0.00%0.45%0.04%CAD-0.06%-0.10%-0.14%-0.05%-0.05%0.42%-0.01%AUD-0.01%-0.05%-0.07%0.00%0.05%0.46%0.05%NZD-0.47%-0.50%-0.55%-0.45%-0.42%-0.46%-0.39%CHF-0.06%-0.09%-0.14%-0.04%0.01%-0.05%0.39% 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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The USD/CHF retraced on Tuesday, down 0.16%, as the US Dollar weakened amid improved risk appetite, driven by renewed hopes of a US-Israel peace deal to open the Strait of Hormuz. The pair trades below 0.8100.
USD/CHF Price Forecast: Technical outlookAfter falling below a support trendline connecting the lows of June and mid-July, the USD/CHF turned bearish in the short-term, with the next key support seen at the 50-day Simple Moving Average (SMA) at 0.8042. This is further confirmed by the Relative Strength Index (RSI), which turned bearish.
Despite this, the overall market structure remains constructive, having registered a series of successive higher highs and higher lows, indicating that the uptrend remains intact.
For USD/CHF to turn bearish, it needs to clear the 50-day SMA, then the 0.8000 mark. Below is the 100-day SMA at 0.7957, immediately followed by the 200-day SMA at 0.7929. On further weakness, the next stop would be the 0.7900 figure.
To continue bullish momentum, USD/CHF must reclaim 0.8100 and break through 0.8150. Once above, it faces the 0.8200 level, then the yearly high at 0.8207. Beyond that, key resistance points are the psychological thresholds at 0.8250 and 0.8300.
USD/CHF Price Chart – Daily
USD/CHF daily chart Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the Japanese Yen.
USDEURGBPJPYCADAUDNZDCHFUSD-0.19%-0.11%0.36%0.13%-0.65%-0.37%-0.17%EUR0.19%0.06%0.58%0.32%-0.48%-0.20%0.03%GBP0.11%-0.06%0.51%0.26%-0.53%-0.26%-0.03%JPY-0.36%-0.58%-0.51%-0.24%-1.02%-0.77%-0.43%CAD-0.13%-0.32%-0.26%0.24%-0.78%-0.52%-0.29%AUD0.65%0.48%0.53%1.02%0.78%0.26%0.49%NZD0.37%0.20%0.26%0.77%0.52%-0.26%0.24%CHF0.17%-0.03%0.03%0.43%0.29%-0.49%-0.24% 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).
Swiss Franc Technical Forecast: USD/CHF Weekly Trade Levels USD/CHF reversed sharply after briefly reaching a major upside objective highlighted in last month's forecast. An outside-week reversal has shifted the focus from trend continuation to whether support can stabilize the broader uptrend. The median line of the yearly advance is now the key battleground heading into August. A break below support would threaten a deeper correction within the yearly uptrend, while a pivot above the July high would be needed to put the bulls back in control. This week's U.S. labor market data could provide the catalyst for the next major directional move. Resistance 8103, 8200/15 (key), 8333– Support 8009 (key), 7827/44, 7769 USD/CHF enters the new week / month at an important technical crossroads after reversing sharply from major technical resistance at the yearly high. The failed breakout has shifted attention from trend continuation to whether buyers can stabilize the current pullback before it develops into a broader correction. With price now testing median-line support and key U.S. labor market data on deck, the next move out of last week's range could provide important directional guidance for the opening weeks of August. Battle lines drawn on the USD/CHF weekly technical chart.
Review my latest Weekly Strategy Webinar for an in-depth breakdown of this USD/CHF setup and more. Join live on Monday’s at 8:30am EST.
Swiss Franc Price Chart – USD/CHF Weekly
Chart Prepared by Michael Boutros, Sr. Technical Strategist; USD/CHF on TradingView
Technical Outlook: In last month’s Swiss Franc Technical Forecast we noted that USD/CHF trading within a well-defined range just above the median line and that, “losses would need to be limited to 8009 IF price is heading for a breakout on this stretch..” We specifically highlighted that, “the next major technical consideration is eyed at the 100% extension of the January advance and the 38.2% retracement of the 2025 decline at 8200/15. Note that the upper parallel converges on this zone over the next few weeks and represents an area of interest for possible topside exhaustion / price inflection IF reached.” The range broke the following week with USD/CHF registering an intraday high at 8207 before reversing sharply on the heels of the Fed rate decision. An outside-weekly reversal off the yearly high last week takes price back into the median-line and the immediate focus is on a breakout of last week’s range for guidance.
Initial resistance is eyed at the 61.8% extension of the 2022 decline at 8103 with key resistance steady at 8200/15. A breach / weekly close above this threshold is needed to mark uptrend resumption with subsequent resistance objectives eyed at eh 2024 low at 8333 and the 2026 low-week close / 2024 open at 8407/16- look for a larger reaction there IF reached.
A break / weekly close below the median-line would threaten a deeper correction within the yearly uptrend towards the March high-week close (HWC) at 8009. Key support / broader bullish invalidation rests with the objective yearly open and the 52-week moving average at 7927/44. Note that this zone converges on the lower parallel over the next few weeks and losses below this slope would be needed to suggest a more significant high is in place and a larger trend reversal is underway.
Bottom line: USD/CHF reversed off confluent uptrend resistance last week with the pullback now testing support at the median line. The immediate focus into the start of the month is on a breakout of last week’s range for directional guidance here. From a trading standpoint, losses would need to be limited to 8009 IF price is heading higher on this stretch, with a breach above 8215 ultimately needed to fuel the next major leg of the advance.
Attention this week turns to the U.S. labor market, with ADP private-sector employment due Wednesday ahead of Friday's highly anticipated Non-Farm Payrolls report. With Chair Warsh emphasizing the Fed's commitment to restoring price stability, the employment data will be closely scrutinized for clues on how much flexibility policymakers have to tighten policy further. Stay nimble into the releases and use the weekly close as your directional guide. Review my latest Swiss Franc Short-term Outlook for a closer look at the near-term USD/CHF technical trade levels.
Key USD/CHF Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Weekly Technical Charts Gold (XAU/USD) US Dollar Index (DXY) Australian Dollar (AUD/USD) Canadian Dollar (USD/CAD) S&P 500, Nasdaq, Dow Bitcoin (BTC/USD) Japanese Yen (USD/JPY) Euro (EUR/USD) British Pound (GBP/USD) --- Written by Michael Boutros, Senior Technical Strategist
The US dollar continues to fight back against several currencies, as the latest PMI numbers were hotter than expected.
USD/JPY Technical Analysis
USDJPY trades around 157.493, pulling back sharply toward the 155.000 level after slipping below its 50-day EMA. Source: TradingView. The US dollar has rallied a bit against the Japanese yen as we are trying to break above the 200-day EMA. The market breaking above the 200-day EMA on a close, I think, would be a very bullish turn of events. The hammer from the previous session on Monday does suggest that there is real support here, especially near the 155-yen level, but if we were to break down below there, it could really open the floodgates. Keep in mind that the Bank of Japan and the Federal Reserve intervened, that’s what caused this chaos, but the interest rate differential will continue to entice carry traders to hold the dollar against the yen, as they get paid at the end of the day.
USD/CAD Technical Analysis USDCAD trades around 1.40630, holding above the 1.40000 level and both its 50-day and 200-day EMAs. Source: TradingView. The US dollar has rallied against the Canadian dollar during the session as we are in the midst of forming a double bottom. Ultimately, this is a market that continues to see a lot of noisy behavior, but a push towards the upside, maybe towards 1.4150 again, could be possible. The 50-day EMA offering support comes into the picture as well, and the 38.2% Fibonacci retracement level has been tested twice and found supportive. This is an area that a lot of people seem to be watching.
USD/CHF Technical Analysis
USDCHF trades around 0.80920, easing from the 0.81500 level while holding above both its 50-day and 200-day EMAs. Source: TradingView. The US dollar slightly negative against the Swiss franc, but only barely so, and it looks like it’s in the midst of forming some type of double bottom as well. In fact, it looks very much like the US dollar Canadian dollar pair. And with that, this is a market that seems to be attracted to the 0.8150 level. The Swiss National Bank is very interested in keeping the Swiss franc weak, therefore that helps the carry traders here in this market.
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The USD/CHF rises by about 0.27% on Monday as traders buy the Greenback following an intervention in FX markets by US and Japanese authorities. Better-than-expected US economic data, a “halt” in hostilities between the US and Iran, provided a tailwind for the American currency, which so far trades at 0.8100 against the Swiss Franc, after bouncing off daily lows of 0.8056.
Overall, the technical picture remains constructive after USD/CHF bounced off the 50-day Simple Moving Average (SMA) at 0.8037, which exacerbated a move above 0.8100. Momentum remains bullish, as depicted by the Relative Strength Index (RSI), after two days of bearishness, as buyers moved in to buy the dip.
For a bullish continuation, the USD/CHF needs to clear the 0.8150 milestone. Above this area sits the 0.8200 figure, followed by the yearly peak at 0.8207. Once surpassed, the next key resistance levels are the psychological 0.8250 and 0.8300.
For a bearish reversal, spot prices must drop below the 0.8100 mark and the 50-day SMA at 0.8037. After this level, the next area of interest would be the 100-day SMA at 0.7954, followed by the 200-day SMA at 0.7928.
Swiss Franc FAQs The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone.
The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.
Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate.
As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
USD/CHF edges higher on Monday as softer Swiss inflation data and a modest recovery in the US Dollar (USD) weigh on the Swiss Franc (CHF). At the time of writing, the pair trades around 0.8109, up 0.38% on the day.
Franc under pressure as muted Swiss inflation keeps SNB on holdStrategists at Brown Brothers Harriman highlight that "Swiss July CPI stays muted," with inflation data underscoring the lack of price pressures in the economy. They note that, "in line with consensus, headline CPI printed at 0.4% y/y vs. 0.5% in June while core CPI remained at 0.3% y/y for a fourth straight month."
Against this backdrop, BBH concludes that the "bottom line: the SNB has plenty of room to keep rates at 0.00% for some time, which is an ongoing drag for CHF," adding that the Franc is currently "the worst performing G10 currency so far this quarter."
On the US side, the Greenback shows signs of stabilization following last week’s sell-off, triggered by coordinated intervention from Washington and Tokyo to counter excessive weakness in the Japanese Yen (JPY). Stronger-than-expected US ISM Manufacturing Purchasing Managers Index (PMI) data lends some support to the Greenback.
The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, trades around 99.96, rebounding from an intraday low of 99.42, its weakest level since June 15.
Technical analysis
On the daily chart, USD/CHF retests the 21-day Simple Moving Average (SMA) near 0.8110 after slipping below it last week. The pair is above the 50-day and 100-day SMAs, keeping the broader outlook mildly constructive.
Momentum is mixed, with the Relative Strength Index (14) hovering near a neutral 52.5 and the Moving Average Convergence Divergence (MACD) still in negative territory, which suggests upside may be steady rather than explosive in the near term.
On the upside, a daily close above the 21-day SMA would bring the psychological 0.8200 level back into focus. A decisive break above this area could open the door to additional gains.
On the downside, immediate support is seen at the 21-day SMA around 0.8110, followed by the 50-day SMA at 0.8038, ahead of the horizontal support near 0.8000 and the 100-day SMA at 0.7955.
As long as USD/CHF holds above this layered demand zone, the pair would likely continue to trade with a mild bullish bias, with any decisive break below 0.8000 needed to weaken the broader constructive tone and expose deeper retracements.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
SNB FAQs The Swiss National Bank (SNB) is the country’s central bank. As an independent central bank, its mandate is to ensure price stability in the medium and long term. To ensure price stability, the SNB aims to maintain appropriate monetary conditions, which are determined by the interest rate level and exchange rates. For the SNB, price stability means a rise in the Swiss Consumer Price Index (CPI) of less than 2% per year.
The Swiss National Bank (SNB) Governing Board decides the appropriate level of its policy rate according to its price stability objective. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame excessive price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.
Yes. The Swiss National Bank (SNB) has regularly intervened in the foreign exchange market in order to avoid the Swiss Franc (CHF) appreciating too much against other currencies. A strong CHF hurts the competitiveness of the country’s powerful export sector. Between 2011 and 2015, the SNB implemented a peg to the Euro to limit the CHF advance against it. The bank intervenes in the market using its hefty foreign exchange reserves, usually by buying foreign currencies such as the US Dollar or the Euro. During episodes of high inflation, particularly due to energy, the SNB refrains from intervening markets as a strong CHF makes energy imports cheaper, cushioning the price shock for Swiss households and businesses.
The SNB meets once a quarter – in March, June, September and December – to conduct its monetary policy assessment. Each of these assessments results in a monetary policy decision and the publication of a medium-term inflation forecast.
The US Dollar was active early on Monday, as the week started with a bang.
USD/JPY Technical Analysis
USDJPY experiences a sharp sell-off, breaking below 160.00 and retesting its 200-day EMA support. The US Dollar has plunged against the Japanese Yen to kick off the trading week as it has been acknowledged that the United States and Japan both have intervened in the currency markets to save the Yen. The Japanese Yen is a funding currency for a lot of borrowing around the world, and the concern would be that this thing could spiral out of control and cause chaos. That being said, we’ve seen interventions previously.
This is the first time that the Americans have acknowledged being involved in it, and it is worth noting that the market stopped right at the 155 Yen level. So, this was a big support level that has held so far. At this point, the question is whether or not the market can bounce. We’ll have to wait and see, but it already has done it a couple of times by fighting back against the intervention.
USD/CAD Technical Analysis
USDCAD tests dynamic support at the 50 EMA near the 1.4000 psychological level following a retracement. The US Dollar has rallied against the Canadian Dollar to pierce the 50-day EMA early on Monday and does look like it continues to see a lot of support in the 1.40 level. The 1.40 level is a round figure that has been both support and resistance, and it’s also right around the 38.2% Fibonacci retracement level. It looks like it is stable here from the recent price action.
USD/CHF Technical Analysis USDCHF pulls back after testing resistance at 0.8150, consolidating near the 50-day EMA. The US Dollar has rallied a bit against the Swiss Franc during the session as well, and it is looking at the 50-day EMA as potential support. Overall, this is a market that looks like it’s still bullish despite the fact that we did have a couple of bad days. We are in a bit of a channel, and the 0.8150 level seems to be an area that has attracted a lot of attention as of late.
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The USD/CHF bounces off weekly lows and meanders around 0.8080 after hitting a daily high of 0.8127, amid presumed intervention, with Nikkei reporting that the US Treasury Department has told currency market participants to prepare for additional intervention, following Thursday's action by Japanese authorities to boost the Yen.
The USD/CHF rebounded, reaffirming its upward bias. The market structure suggests the uptrend will continue as long as spot prices remain above the 50-day SMA and the July 10 cycle low of 0.8010.
The Relative Strength Index (RSI) is turning bearish, aiming upwards, an indication that a recovery may be on the cards. This, along with price action confirming that the uptrend is in play, suggests that further upside is the path of least resistance.
To resume a bullish trend, USD/CHF must break above 0.8100. Beyond this level, the high of July 30 at 0.8175 is the next target, followed by 0.8200. If the price convincingly breaks through, the yearly high of 0.8207 could be within reach.
A move below the 50-day SMA and 0.8010 would signal a potential break of 0.8000. Such a move could disrupt the bullish market structure and lead to further declines. The next support levels are the 100-day SMA at 0.7952 and the 200-day SMA at 0.7927.
Swiss Franc FAQs The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone.
The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.
Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate.
As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
The US dollar continues to fight back, as we are looking to resume some of the previous trends.
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EUR/USD Technical Analysis
EURUSD trades around 1.14856, rebounding from the 1.140 area but staying below its 200-day EMA at 1.15583. Source: TradingView. The euro has pulled back a bit during the trading session here on Friday as we are now testing the 50-day EMA. The 50-day EMA being broken below would open up a move down to the 1.14 level, a large round, psychologically significant figure that has been pretty strong support recently. To the upside, we have the 200-day EMA at the 1.1558 level offering resistance. We will just have to wait and see how that plays out, but a break above there would be very strong.
USD/CAD Technical Analysis USDCAD trades around 1.40487 after easing from the 1.425 high, holding above its 50-day EMA at 1.40338. Source: TradingView. The US dollar is recovering against the Canadian dollar early during trading as the market continues to bounce around the 50-day EMA. Breaking above here could send this market challenging the 1.4150 level. The 1.40 level underneath is a floor in the market, and I think it continues to be a major area of concern. It had previously been significant resistance, so market memory would suggest that perhaps there will be buyers here. Plus, we have the 200-day EMA race towards that area. Interest rate differential still favors the US dollar, so this is part of what is playing out in this market.
USD/CHF Technical Analysis
USDCHF trades around 0.81081, holding above its 50-day EMA at 0.80469 and 200-day EMA at 0.79910. Source: TradingView. The US dollar against the Swiss franc has rallied quite nicely after a couple of rough days. We are now breaking above the 0.81 level, bouncing from the 50-day EMA, adding more possibility of a break higher and the ability to collect swap yet again. Over the longer term, I do think this is a market where the interest rate differential will be the main story. The Swiss National Bank does not want a strong Swiss franc anyway, so momentum suggests that the buyers are still very much in control.
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Market news from the European morning session - 31 July 2026
Headlines:
How have interest rate expectations changed after this week's events?BOJ governor Ueda says to expect to keep raising interest rates in response to economic, financial conditionsBOJ governor Ueda says will conduct monetary policy in a manner so as to not fall behind the curveBOJ leaves rates unchanged as expected. Vote was 8-1ECB's Kocher: Decisions to be based on incoming data to bring inflation back to the 2% targetEuro area inflation nudges up in July, keeps the pressure on the ECBFrench inflation accelerates in July, reaffirming the broader trend in the regionItaly July preliminary CPI +2.8% vs +2.8% y/y expectedGerman unemployment rises by slightly more than anticipated in JulySouth Korea's KOSPI extends rebound in closing stages of the week, now up 17% todayMarket update:
USD and AUD lead, CHF lags on the dayWTI crude up 0.7% to $84.20European indices mostly higher; S&P 500 futures up 0.5%US 10-year yields up 1.2 bps to 4.675%Gold down 1.1% to $4,057Bitcoin down 1.3% to $63,887As we count down to the end of the month, markets are still seeing some volatile swings in ending the week.
The rebound in tech shares continues after South Korea's benchmark KOSPI index posted near 18% gains today. And that's setting a more positive backdrop for broader markets.
European stocks are pushing modestly higher with the DAX up 0.7% and CAC 40 up 0.9%, while US futures are posting solid gains as well in looking to wrap up the week. S&P 500 futures are up 0.5% with Nasdaq futures up 1.3% currently. No hyperscaler worries this week is also helping to bolster the mood, for now at least.
Besides that, we once again had another taste of Japanese yen volatility with a suspected second round of intervention. USD/JPY recovered well from yesterday's drop to settle above 160.00 today before being shot back down to 158.55 in a jiffy during the session. It was a gradual recovery after but one that is quick to see the pair move back up by 0.3% to 160.05 currently.
At the same time, the dollar is seeing a modest bounce as well with EUR/USD down 0.3% to 1.1495 and USD/CHF up 0.5% to 0.8095 on the day.
In terms of economic data, we had euro area inflation numbers for July and they were a tad hotter than expected. That will just serve to keep the ECB on their toes ahead of a likely rate hike again in September.
In other markets, oil prices are settling just a little higher with WTI crude up 0.7% to $84.20 and 10-year Treasury yields also just a touch higher by nearly 2 bps to 4.68%. Meanwhile, gold is seen down 1.1% to $4,057 as the back and forth continues for precious metals.
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investingLive European markets wrap: Eurozone inflation ticks up in July; USD/JPY intervention again?How have interest rate expectations changed after this week's events?ECB's Kocher: Decisions to be based on incoming data to bring inflation back to the 2% targetEuro area inflation nudges up in July, keeps the pressure on the ECBItaly July preliminary CPI +2.8% vs +2.8% y/y expectedStealth intervention causes wild swings in USD/JPY; focus stays on Middle East and next US CPIGerman unemployment rises by slightly more than anticipated in JulyGold fails to extend gains as traders await the US CPI and Middle East developments BOJ governor Ueda says will conduct monetary policy in a manner so as to not fall behind the curveFrench inflation accelerates in July, reaffirming the broader trend in the region
The USD/CHF retreats for the second straight day, down more than 1% amid growing speculation of an intervention in the FX markets, which boosted the Japanese Yen. The pair fell to a 10-day low of 0.8039, slightly above the 50-day Simple Moving Average (SMA) at 0.8027. As of writing, the pair meanders around 0.8250.
USD/CHF Price Forecast: Technical outlookDespite its retreat, USD/CHF remains upward-biased. The market structure indicates that the uptrend remains intact as long as spot prices are above the 50-day SMA and the July 10 cycle low of 0.8010.
The Relative Strength Index (RSI) turned bearish. Hence, with price action revealing that bulls are still in charge, while the RSI is bearish, caution is warranted.
For a bullish resumption, USD/CHF needs to clear 0.8100. Above this area lies the high of the day (HOD) at 0.8175, ahead of 0.8200. If price registers a decisive break, the yearly high of 0.8207 might be up for grabs.
Downwards, a breach below the 50-day SMA and 0.8010 opens the door to a break of 0.8000. Below, the bullish market structure would be broken, opening the door for further downside. The next support would be the 100-day SMA at 0.7950, followed by the 200-day SMA at 0.7922.
USD/CHF Chart – Daily
USD/CHF daily chart Swiss Franc Price This Month The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies this month. Swiss Franc was the strongest against the US Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.91%-1.55%-1.80%-1.32%-1.55%-3.37%-0.37%EUR0.91%-0.61%-0.92%-0.45%-0.62%-2.53%0.55%GBP1.55%0.61%-0.26%0.21%0.00%-1.90%1.17%JPY1.80%0.92%0.26%0.45%0.19%-1.71%1.43%CAD1.32%0.45%-0.21%-0.45%-0.26%-2.13%0.98%AUD1.55%0.62%-0.00%-0.19%0.26%-1.91%1.20%NZD3.37%2.53%1.90%1.71%2.13%1.91%3.15%CHF0.37%-0.55%-1.17%-1.43%-0.98%-1.20%-3.15% 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).
USD/CHF gained strength for a move above 0.8150. A rising channel is forming with support at 0.8170 on the 4-hour chart. EUR/USD is now at risk of a move below 1.1350. Gold prices declined and traded below the $4,065 support. USD/CHF Technical Analysis The US Dollar remained well-bid above 0.8080 against the Swiss Franc. USD/CHF started a fresh increase above 0.8120 and 0.8150.
Looking at the 4-hour chart, the pair settled above 0.8150, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). There was a clear move above the 1.236 Fib extension level of the downward move from the 0.8150 swing high to the 0.8032 low.
There is also a rising channel forming with support at 0.8170. On the upside, the pair could face resistance near 0.8200. The next major resistance might be 0.8220 or the 1.618 Fib extension level.
A close above 0.8220 could start another steady increase. In the stated case, the bulls could aim for a move to 0.8265. Any more gains might open the doors for a test of 0.8300.
If there is a downside correction, the pair could find bids near the channel support. The next major support could be near 0.8150. The main support might be 0.8100 and the 100 simple moving average (red, 4-hour).
A downside break and close below 0.8100 might send the pair toward 0.8050. Any more losses could open the doors for a test of 0.8000.
Looking at Gold, the price is again moving lower, and the bears could aim for a move below $3,950 in the near term.
Upcoming Key Economic Events:
US Gross Domestic Product for Q2 2026 (Preliminary) – Forecast 2.1% versus previous 2.1%. US Personal Income for June 2026 (MoM) – Forecast +0.3%, versus +0.7% previous. US Initial Jobless Claims – Forecast 200K, versus 187K previous.
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The US dollar continues to flex its muscles early on Tuesday.
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EUR/USD Technical Analysis
EUR/USD drops to 1.1362, breaking below its range and EMAs. Source: TradingView The Euro has gone back and forth during the course of the trading session here on Tuesday as we continue to hang on by a thread. We are at the bottom of a recent consolidation area, and I do think at least at this point in time there are a lot of questions to ask when it comes to the Euro. Interest rates in America will be a big driver typically of this currency pair, and despite the fact that rates have drifted a little bit lower, they are still uncomfortably high, and there are concerns in the Middle East, which has a major influence on that as well.
The recent area of consolidation could be in the process of trying to form a double bottom; we’ll just have to wait and see. Short-term rallies will more likely than not continue to be swimming upstream if recent history is to be believed.
GBP/USD Technical Analysis
GBP/USD slips to 1.3279, drifting below its EMAs near 1.33. Source: TradingView The pound initially tried to rally but then gave back gains as the market is still hanging around the 1.33 level. This is with elevated US rates. There are concerns in the Middle East, and sometimes traders will run to the US dollar in times of concern. It is possible that’s what’s going on here. The market is likely to continue to be noisy, but it has decidedly turned bearish over the last couple of weeks.
USD/CHF Technical Analysis USD/CHF grinds higher to 0.8198, breaking out above its EMAs. Source: TradingView And the US dollar continues to grind higher against the Swiss Franc. The positive swap differential favors the US dollar as traders continue to see value in the greenback. We had recently consolidated and now have broken out of that little consolidation range to show increasing bullish pressure.
The market is typically one that’s very choppy and somewhat sideways, and more of a grind even when it does trend, so patience is something that I typically find I have to employ here against the Franc. But getting paid at the end of every day is a huge bonus here with that positive swap, and right now I think that is one of the main drivers.
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Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
USD/CHF continues to grind higher, with the technical picture pointing to 0.8400 as the next major resistance level.
That area is significant for more than one reason. It coincides with the 127.2% Fibonacci extension of the recent recovery leg and also aligns closely with the 50% Fibonacci retracement of the broader decline from the January 2025 high to the January 2026 low. With two key Fibonacci levels converging in the same region, 0.8400 becomes an important technical hurdle.
The move also fits the improving fundamental backdrop for the pair. Reports suggesting the Swiss National Bank could keep rates at 0.00% through 2027 reinforce the case for a softer Swiss franc, while higher US yields continue to underpin the US dollar.
A sustained break above 0.8400 would strengthen the bullish outlook and could open the door to a move towards the 161.8% Fibonacci extension near 0.8500. Until then, traders should watch how price reacts at this confluence zone, where profit-taking and fresh selling interest may emerge.
The USD/CHF extends its advance for the sixth straight trading session, up 0.11%, as the Greenback holds firm against a basket of six currencies, the US Dollar Index (DXY). At the time of writing, the pair trades at 0.8190, with buyers targeting 0.8200.
USD/CHF Price Forecast: Technical outlookThe Swiss Franc is set to continue to weaken, both technically and fundamentally. Bloomberg, citing sources, reported that the Swiss National Bank (SNB) is expected to keep rates near zero until the end of 2027.
Given the backdrop, the USD/CHF path of least resistance is upwards, and it will face key resistance levels at 0.8200, followed by the June 19, 2025, peak at 0.8215. A breach of the latter will expose the June 4, 2025, peak at 0.8250, followed by the 0.8300 milestone.
Conversely, if sellers push USD/CHF below 0.8150, it could exacerbate a move lower. The first-floor level would be 0.8100. A decisive break exposes the July 15 cycle low of 0.8034, ahead of the 50/day Simple Moving Average (SMA) at 0.8012.
USD/CHF Price Chart – Daily
USD/CHF daily chart Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the New Zealand Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD0.00%0.28%-0.07%0.23%-0.09%0.25%0.11%EUR-0.00%0.23%-0.07%0.20%-0.12%0.26%0.09%GBP-0.28%-0.23%-0.30%-0.03%-0.34%-0.01%-0.13%JPY0.07%0.07%0.30%0.25%-0.04%0.30%0.18%CAD-0.23%-0.20%0.03%-0.25%-0.30%0.04%-0.10%AUD0.09%0.12%0.34%0.04%0.30%0.38%0.20%NZD-0.25%-0.26%0.00%-0.30%-0.04%-0.38%-0.16%CHF-0.11%-0.09%0.13%-0.18%0.10%-0.20%0.16% 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).
Swiss Franc Technical Forecast: USD/CHF Short-term Trade Levels USD/CHF has rallied to fresh yearly highs after breaking out of the July opening-range The rally is now approaching the upper bounds of the yearly uptrend at a major technical hurdle- inflection risk rises A sustained breakout is needed to signal the next leg higher while failure at current levels would increase the risk of a larger pullback within the prevailing uptrend. Next week's FOMC decision and U.S. inflation data could provide the catalyst for the next directional move. Resistance 8100/25 (key), 8200/15, 8333- Support 8041, 8009 (key), 7910/27 USD/CHF is attempting to register a fifth consecutive daily advance after rebounding sharply from the July opening-range low, carrying the pair towards a major technical inflection zone. The rally is pressing the upper bounds of the yearly uptrend, where multiple resistance studies converge and the risk of a larger reaction increase. A decisive close above this barrier would strengthen the broader bullish outlook and pave the way for next major leg of the rally, while rejection would keep the focus on a potential pullback within the late-May uptrend. Battles lines drawn on the USD/CHF short-term technical charts ahead of next week's FOMC decision.
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Swiss Franc Price Chart – USD/CHF Daily
Chart Prepared by Michael Boutros, Sr. Technical Strategist; USD/CHF on TradingView
Technical Outlook: In last month’s Swiss Franc Short-term Outlook we noted that USD/CHF was, “testing confluent uptrend resistance and while the outlook remains constructive, the immediate focus is on a reaction off this mark into the close of the week. From a trading standpoint, losses would need to be limited to 8041 IF price is heading higher on this stretch with a close above the upper parallel needed to fuel the next major leg of the rally.” USD/CHF pulled back nearly 1.6% off those highs in the following days with price briefly registering an intraday low at 8010 into the July open before rebounding.
The recovery has now broken the monthly opening range with USD/CHF poised to mark a fifth consecutive daily advance on Friday. The rally is now approaching a major technical hurdle just higher, and the risk rises for possible price inflection into the upper bounds of the yearly uptrend.
Swiss Franc Price Chart – USD/CHF 240min
Chart Prepared by Michael Boutros, Sr. Technical Strategist; USD/CHF on TradingView
Notes: A closer look at Swisse price action shows USD/CHF continuing to trade within the confines of the ascending pitchfork we have been tracking off the late-May low. The 75% parallel now converges on key lateral resistance at the 100% extension of the January advance and the 38.2% retracement of the 2025 decline at 8200/15. Look for a larger reaction there IF reached with a topside breach / daily close above needed to fuel the next major leg of the advance. Subsequent resistance objectives are eyed at the upper parallel (currently near ~8280s) and the 2023 swing low at 8333.
Initial support rests with the monthly opening range high at 8152 and is backed by the 8100/25 pivot zone. This region is defined by the November high-day close (HDC), the 61.8% extension of the 2022 decline, the August high close and the November swing high. Near-term bullish invalidation is now raised to the objective monthly open at 8083- losses below this threshold would suggest a more significant high is in place with a break of the January high at 8041 needed to put the bears back in control.
Bottom line: USD/CHF has broken to fresh yearly highs with the rally now approaching major technical resistance at the upper bounds of the yearly uptrend. From a trading standpoint, look to reduce long-exposure / raise protective stops on a stretch towards the 82-handle- losses would need to be limited to 8083 IF price is heading higher on this stretch with a close above the upper parallel (on the daily chart) needed to fuel the next major leg of the rally.
Keep in mind that the FOMC rate decision is on tap Wednesday, followed by the release of the June Core Personal Consumption Expenditures (PCE) report on Thursday. As the Fed's preferred measure of underlying inflation, the PCE data will be closely scrutinized for signs that rising energy prices are beginning to filter through to broader price pressures. A stronger-than-expected reading would reinforce the case for additional policy tightening later this year, providing further support for the U.S. dollar. Fed funds futures are currently pricing a 64% probability the Fed leaves rates unchanged next week, while assigning an 80% chance of a 25-basis-point rate hike at the September meeting. Stay nimble into the release and watch the weekly closes for guidance here. Review my latest Swiss Franc Weekly Forecast for a closer look at the longer-term USD/CHF technical trade levels.
USD/CHF Key Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts Canadian Dollar Short-term Outlook: USD/CAD Rebound Challenges the July Downtrend Australian Dollar Outlook: AUD/USD Rally Tests Make-or-Break Resistance Japanese Yen Short-term Outlook: USD/JPY Defends the Uptrend as the Range Tightens British Pound Short-term Outlook: GBP/USD Breakout Attempts Major Trend Reversal US Dollar Short-term Outlook: USD Uptrend Faces Make-or-Break Test After CPI Euro Short-term Outlook: EUR/USD Coils Above Critical Support- Decision Time Gold Price Short-term Outlook: XAU/USD Bulls Try to Carve Out a Low After 30% Drop --- Written by Michael Boutros, Sr Technical Strategist
EUR/CHF breakout puts USD/CHF on watch Break above 0.8150 targets 0.8250 initially Given the euro area and Switzerland face many of the same energy security and terms of trade pressures, the breakout in EUR/CHF on Wednesday looks more technical than fundamental. With a major surprise from the ECB later today unlikely, and nothing of consequence on the Swiss or US economic calendars to trouble the scorers, it raises the question of whether USD/CHF could deliver a similar breakout. Outside of the ECB, the main threat to that view would be a positive development from the Gulf that sees energy prices subside, encouraging renewed demand for the franc.
EUR/CHF breaks higher
Source: TradingView
EUR/CHF spent months bumping up against resistance around 0.9268. There was one false breakout in the middle of July before the pair retreated to uptrend support running from the early-July lows, finding buyers around the 50-day simple moving average. Wednesday finally delivered the decisive breakout above 0.9268, with the pair pushing into resistance around 0.9300, a level that saw plenty of work on either side back in January. That's the key focal point today.
The broader technical backdrop remains constructive. The pair continues to trade above the key medium and long-term moving averages, while momentum indicators remain supportive, with RSI (14) holding above 63 and MACD maintaining a bullish crossover. That leaves the bias favouring buying dips and bullish breakouts. A convincing move above 0.9300 would open the door for longs to be established with a stop beneath the level for protection, initially targeting 0.9350, the swing high from January 14. Beyond that, minor resistance is located at 0.9370, followed by 0.9400.
Should 0.9300 once again prove too much of a hurdle, a pullback towards former resistance at 0.9268 may see it revert to support. Below that, uptrend support from the early-July lows kicks in around 0.9245 today. A break beneath both would weaken the near-term bullish outlook.
USD/CHF set to follow?
Source: TradingView
EUR/CHF's breakout should be of interest to USD/CHF traders, given the technical structure is remarkably similar. After rebounding from a minor uptrend running from the lows set in the middle of July, USD/CHF is once again testing resistance around 0.8150, a level that has repeatedly acted as both support and resistance over the past year. There was one failed attempt to break above the level in mid-July, but the pair is once again knocking on the door.
The broader technical backdrop remains constructive. The price continues to trade above the key medium and long-term moving averages, all of which retain a positive slope, pointing to the potential for an eventual breakout that could open the door for a move towards 0.8250.
The one note of caution comes from RSI (14), which has been making lower highs despite remaining comfortably above the neutral 50 level. Ideally, traders would like to see RSI break that downtrend and print a fresh high to provide greater confidence that momentum is strengthening once again. Even so, the broader technical picture, including the bullish MACD configuration, continues to favour upside over downside.
A convincing break above 0.8150 would favour buying the breakout, with a stop beneath the level for protection, initially targeting 0.8250. Above there, the next level of note comes in at 0.8333, an area that acted as both support and resistance through April, May and June last year.
On the downside, should 0.8150 continue to cap, the minor uptrend from the mid-July lows provides the first line of support, coming in around 0.8088 today. A break beneath that would suggest the recent sideways range remains intact, shifting the focus back towards the lower boundary at 0.8013.
USD/CHF registers solid gains on Wednesday, with buyers reclaiming the 0.8100 figure amid a trading session in which the Greenback loses ground against most G8 FX currencies but posts gains versus the safe-haven status of the Swiss Franc. The pair trades at 0.8146, up more than 0.20%.
USD/CHF price forecast: Technical outlookThe market structure remains bullish, with USD/CHF forming a series of higher highs and higher lows. Also, the Relative Strength Index (RSI) is bullish, indicating that buyers are gaining momentum and opening the door to further upside. Hence, the path of least resistance is upwards.
The first ceiling level for USD/CHF to clear is the July 13 high at 0.8149. Once surpassed, the next stop would be the August 1, 2025, high at 0.8172, followed by 0.8200. On further strength, the next area of interest will be the June 19, 2025, peak at 0.8215, ahead of the June 4, 2025, daily peak at 0.8250. Once those levels are taken out, the next stop is 0.8300.
On the flip side, to turn bearish, the USD/CHF needs to clear the latest cycle low seen at 0.8061, the July 17 low of the day (LOD), followed by the July 10 swing low of 0.8030. Below lies the 0.8000 mark.
USD/CHF daily price chart
USD/CHF daily chart 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 British Pound.
USDEURGBPJPYCADAUDNZDCHFUSD0.14%0.59%0.49%0.50%-0.42%0.30%0.75%EUR-0.14%0.46%0.28%0.37%-0.55%0.15%0.60%GBP-0.59%-0.46%-0.17%-0.11%-1.00%-0.30%0.19%JPY-0.49%-0.28%0.17%0.10%-0.85%-0.21%0.36%CAD-0.50%-0.37%0.11%-0.10%-0.87%-0.32%0.29%AUD0.42%0.55%1.00%0.85%0.87%0.71%1.20%NZD-0.30%-0.15%0.30%0.21%0.32%-0.71%0.49%CHF-0.75%-0.60%-0.19%-0.36%-0.29%-1.20%-0.49% 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).
Interest rates in America continue to put bearish pressure on some currencies.
EUR/USD Technical Analysis
EUR/USD daily chart, slipping near 1.1410 toward the 1.1400 level. Source: TradingView The euro has rallied slightly in the early part of the trading session on Wednesday, but as you can see, the market is struggling to continue to go to the upside. Ultimately, this is a market that is trying to hang around the 1.14 level and make a bigger decision as to where we are going next.
With that being the case, I think this is a market that anytime it rallies, there will be a certain amount of people willing to sell it. Rising interest rates in America continue to put bearish pressure on this pair. The 1.14 level is a support area. Some traders could even see this as a bearish flag with the measure of the pole somewhere just around the 1.12 level.
GBP/USD Technical Analysis
GBP/USD daily chart, hovering near 1.3370 where its EMAs converge. Source: TradingView The British pound initially rallied, but it looks like the sellers are starting to come back in as well with those higher rates. That does make a certain amount of sense as the interest rate differential shrinks between London and DC. With so many concerns around the world, the US dollar is considered to be a safety currency most of the time. Maybe that is what is going on, but we are right in the middle of a larger consolidation area, and that is something worth paying attention to as well.
USD/CHF Technical Analysis USD/CHF daily chart, pushing near 0.8120 back toward its July highs. Source: TradingView The US dollar has done very little against the Swiss franc during the trading session on Wednesday. The 0.8150 level continues to be an area that is attracting a certain amount of attention as potential resistance. A break above there would be a bullish sign; it would be a break of a swing high in an area that goes back quite some time. Short-term pullbacks continue to attract buyers. The interest rate differential most decidedly favors America here, so carry traders like buying this as well.
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USD/CHF edges higher as escalating tensions in the Middle East support the US Dollar (USD), with buyers eyeing a breakout above the 0.8150 resistance level that has capped gains since July 2025. At the time of writing, the pair trades around 0.8123, up 0.27% on the day.
From a technical perspective, USD/CHF has largely traded sideways after breaking above 0.8000 in June. A successful retest of that level drew buyers back into the market. Holding above 0.8000 keeps the near-term bias tilted to the upside, although buyers may need a fresh catalyst to clear 0.8150.
On the daily chart, the pair trades above the Bollinger Bands 20-period Simple Moving Average (SMA) at 0.8084 and is approaching the upper band at 0.8140.
The Relative Strength Index (RSI) near 59 points to positive momentum without signalling overbought conditions. However, the Average Directional Index (ADX) has eased to around 26 from above 30, suggesting the recent advance is losing some strength.
Immediate resistance lies at the upper Bollinger Band near 0.8140, closely followed by the multi-month barrier at 0.8150. On the downside, initial support sits at the Bollinger midline at 0.8084, followed by the lower band at 0.8029. Below that, the 0.8000 and 0.7900 horizontal levels could attract buying interest.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the British Pound.
USDEURGBPJPYCADAUDNZDCHFUSD0.05%0.43%0.31%0.22%-0.14%0.12%0.25%EUR-0.05%0.39%0.26%0.18%-0.16%0.08%0.20%GBP-0.43%-0.39%-0.11%-0.21%-0.55%-0.31%-0.18%JPY-0.31%-0.26%0.11%-0.09%-0.44%-0.21%-0.06%CAD-0.22%-0.18%0.21%0.09%-0.35%-0.10%0.03%AUD0.14%0.16%0.55%0.44%0.35%0.25%0.40%NZD-0.12%-0.08%0.31%0.21%0.10%-0.25%0.13%CHF-0.25%-0.20%0.18%0.06%-0.03%-0.40%-0.13% 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).
/ / Swiss Franc Technical Outlook: USD/CHF Breakout Pressure Builds at Major Resistance USD/CHF is testing pivotal resistance for a fifth consecutive week and a breakout here could fuel the next major leg of the advance.
21/07/2026
7/21/2026 2:45:00 PM
Swiss Franc Technical Outlook: USD/CHF Multi-Timeframe Analysis Michael Boutros, Senior Market Analyst at FOREX.com, examines the USD/CHF technical outlook as the Swiss franc approaches a critical long-term resistance zone. Using monthly, weekly, daily and four-hour charts, he explains the key breakout and support levels, momentum divergence, and why technical structure is likely to drive the pair ahead of next week's Federal Reserve meeting.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
Key USD/CHF Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts Australian Dollar Outlook: AUD/USD Rally Tests Make-or-Break Resistance Japanese Yen Short-term Outlook: USD/JPY Defends the Uptrend as the Range Tightens British Pound Short-term Outlook: GBP/USD Breakout Attempts Major Trend Reversal US Dollar Short-term Outlook: USD Uptrend Faces Make-or-Break Test After CPI Euro Short-term Outlook: EUR/USD Coils Above Critical Support- Decision Time Gold Price Short-term Outlook: XAU/USD Bulls Try to Carve Out a Low After 30% Drop Canadian Dollar Short-term Outlook: USD/CAD Coils Below Resistance—Breakout Looms Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
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The Swiss Franc loses ground against the Greenback in a trading session marked by CHF weakness amid improving risk appetite. At the time of writing, the USD/CHF trades at 0.8101, up 0.32%.
USD/CHF Price Forecast: Technical outlookThe USD/CHF recovered the 0.8100 level after hitting a three-day low of 0.8034 last week, in which the Greenback weakened. Worth noting that in the last four trading days, the pair reached a successive series of higher lows, hinting that buyers are moving in to buy the dip.
Momentum, as measured by the Relative Strength Index (RSI) shows that buyers hold the upper hand. Hence, the path of least resistance is upwards.
The first resistance for USD/CHF would be the August 1, 2025, peak at 0.8172. Above sits the 0.8200 mark, followed by the June 19, 2025, high at 0.8215, ahead of 0.8250. Once hurdled, the next stop would be the 0.8300 mark.
Downwards, the first support is the low of the day (LOD) at 0.8061. Below, the next support is the July 15 swing low of 0.8033 ahead of the psychological 0.8000 mark. A breach of it, and a move towards the 50-day Simple Moving Average (SMA) at 0.7979 is on the cards.
USD/CHF Price Chart — Daily
USD/CHF daily chart Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the Canadian Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD0.24%0.19%0.06%0.45%-0.20%0.13%0.39%EUR-0.24%-0.03%-0.15%0.21%-0.44%-0.16%0.14%GBP-0.19%0.03%-0.13%0.25%-0.39%-0.12%0.12%JPY-0.06%0.15%0.13%0.39%-0.26%0.06%0.29%CAD-0.45%-0.21%-0.25%-0.39%-0.64%-0.33%-0.11%AUD0.20%0.44%0.39%0.26%0.64%0.31%0.55%NZD-0.13%0.16%0.12%-0.06%0.33%-0.31%0.22%CHF-0.39%-0.14%-0.12%-0.29%0.11%-0.55%-0.22% 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).
USD/CHF trades with a downside bias on Friday as the Swiss Franc (CHF) outperforms its major peers, while the US Dollar (USD) is little changed. At the time of writing, the pair trades around 0.8074 after reaching 0.8149 earlier this week, its highest level since August 2025.
From a technical perspective, USD/CHF is still in a steady uptrend, marked by higher highs and higher lows, with the pair trading above its key moving averages. However, buyers have struggled to clear the multi-month resistance at 0.8150, suggesting that the rally that began in early May is losing momentum.
On the daily chart, the pair holds above the 100-day and 200-day Simple Moving Averages (SMAs), clustered around 0.7920 and 0.7919, respectively. It also trades above the 0.8000 psychological level.
The Relative Strength Index (RSI) near 54 indicates modest bullish momentum, while the Average Directional Index (ADX) near 26 hints at a moderately directional trend. The Moving Average Convergence Divergence (MACD) indicator sits slightly negative, reinforcing the idea of a maturing advance where upside may slow but is still supported by underlying structure.
On the downside, initial support is seen at 0.8000, followed by the 100-day SMA at 0.7920 and the 200-day SMA at 0.7919. These moving averages form a broader demand zone if the pullback deepens.
On the topside, immediate resistance sits at 0.8150. A sustained break above this barrier could extend the broader recovery, while another rejection would likely keep the pair consolidating above the 0.8000 support.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the British Pound.
USDEURGBPJPYCADAUDNZDCHFUSD0.06%0.18%0.05%-0.19%0.20%-0.01%-0.14%EUR-0.06%0.12%-0.04%-0.27%0.15%-0.06%-0.21%GBP-0.18%-0.12%-0.17%-0.40%0.02%-0.17%-0.34%JPY-0.05%0.04%0.17%-0.24%0.18%-0.05%-0.18%CAD0.19%0.27%0.40%0.24%0.42%0.20%0.06%AUD-0.20%-0.15%-0.02%-0.18%-0.42%-0.22%-0.33%NZD0.00%0.06%0.17%0.05%-0.20%0.22%-0.15%CHF0.14%0.21%0.34%0.18%-0.06%0.33%0.15% 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).
The US Dollar (USD) has turned lower against the Swiss Franc (CHF) on Friday’s European trading session, after failing to find acceptance above the 0.8100 level, which keeps the immediate bearish structure in place. The Dollar remains weighed by the soft US inflation figures released earlier this week, which have cooled hopes of immediate Federal Reserve (Fed) rate hikes.
US Consumer Price Index (CPI) and Producer Price Index (PPI) figures confirmed that inflationary pressures moderated in June, favoured by a sharp pullback in Oil prices. These numbers provide the Fed further leeway to assess the economic impact of the volatile energy prices, which practically discards a rate hike in July and cools hopes of one in September.
Geopolitical tensions, on the other hand, remain high, as the US and Iran escalated their reciprocal attacks this week, and Iran threatened to close other energy routes, which might bring the global economy to the edge. This is likely to keep appetite for risk subdued and cushion the US Dollar’s downside attempts.
Technical Analysis: Trading lower within a horizontal channel
USD/CHF trades at 0.8073, with recent price action showing a sequence of lower highs and lower lows, yet within a roughly 120-pip range and with momentum indicators at neutral-to-bearish levels. The four-hour Relative Strength Index (14) is hovering just below the 50 line, while the Moving Average Convergence Divergence (MACD) indicator sits marginally below zero, both hinting at subdued bullish conviction.
On the downside, initial support is seen at the July 10 and 15 lows near 0.8030, with key support in the area between early July lows, at 0.8010, and the 38.2% Fibonacci retracement of June's rally, at 0.8007. On the topside, bulls would need to confirm above session highs at 0.8100 to aim for the top of the channel at the area between 0.8135 and 0.8150, which capped rallies in late June and mid-July.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the Australian Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD0.00%0.22%0.00%-0.07%0.29%0.17%-0.19%EUR-0.01%0.22%-0.04%-0.11%0.30%0.16%-0.22%GBP-0.22%-0.22%-0.24%-0.32%0.07%-0.03%-0.44%JPY0.00%0.04%0.24%-0.07%0.30%0.17%-0.20%CAD0.07%0.11%0.32%0.07%0.38%0.26%-0.13%AUD-0.29%-0.30%-0.07%-0.30%-0.38%-0.13%-0.51%NZD-0.17%-0.16%0.03%-0.17%-0.26%0.13%-0.38%CHF0.19%0.22%0.44%0.20%0.13%0.51%0.38% 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).
The USD/CHF reversed course, rising by over 0.40% late Thursday as the Greenback staged a recovery amid overall risk aversion, heightened tensions in the Middle East, and strong US economic data. The pair trades at 0.8088 after bouncing off daily lows of 0.8045.
USD/CHF price forecast: Technical outlookThe USD/CHF made a U-turn after testing the March 31 high-turned-support at 0.8042, exacerbating a move toward 0.8100.
Momentum as measured by the Relative Strength Index (RSI) indicates that bulls are gathering some steam after taking a breather on Wednesday, as the index briefly touched the 50-neutral level. Since then, the RSI’s aim has been toward the 60 level, an indication that the uptrend might continue.
If USD/CHF climbs above 0.8100, this opens the door to test the August 1, 2025 daily peak at 0.8171, and then the June 4, 2025 high at 0.8250. Conversely, a drop below 0.8100 opens the door to test the psychological 0.8000 level. Below this area lies the 50-day Simple Moving Average (SMA) at 0.7967, followed by the 200-day SMA at 0.7919.
USD/CHF Price Chart — Daily
USD/CHF daily chart Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the British Pound.
USDEURGBPJPYCADAUDNZDCHFUSD0.19%0.46%0.11%0.05%0.06%0.09%0.41%EUR-0.19%0.28%-0.07%-0.13%-0.04%-0.08%0.21%GBP-0.46%-0.28%-0.35%-0.39%-0.33%-0.35%-0.04%JPY-0.11%0.07%0.35%-0.08%0.03%-0.01%0.29%CAD-0.05%0.13%0.39%0.08%0.10%0.07%0.37%AUD-0.06%0.04%0.33%-0.03%-0.10%-0.01%0.27%NZD-0.09%0.08%0.35%0.01%-0.07%0.01%0.29%CHF-0.41%-0.21%0.04%-0.29%-0.37%-0.27%-0.29% 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).
