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.
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, “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
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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).
Swiss Franc Technical Forecast: USD/CHF Weekly Trade Levels USD/CHF has spent four consecutive weeks pressing a major pivot zone at uptrend resistance. The repeated failure to break higher is increasing the importance of this technical barrier for the broader uptrend. A decisive close above resistance would confirm uptrend resumption and expose the next major upside objectives. A break below the monthly range low would be the first indication that bullish momentum is fading and a larger correction may be underway. The economic calendar is relatively light, leaving geopolitical developments as the most likely catalyst for the next directional move. Resistance 8103, 8200/15 (key), 8333– Support 8037, 8009 (key), 7827/39 USD/CHF is entering a decisive phase after spending nearly a month unable to clear a major technical barrier. Although the January uptrend remains constructive, repeated rejection from the same zone has increased the risk that momentum begins to fade unless buyers force a convincing breakout. With price still holding above rising trend support and geopolitical developments likely to drive sentiment, the next move could determine whether the broader advance resumes or gives way to a deeper correction. Battle lines drawn on the USD/CHF weekly technical chart.
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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 was, “testing uptrend resistance at a key pivot zone. From a trading standpoint, a good zone to reduce portions of long-exposure / raise protective stops- losses should be limited to 8009 IF price is heading higher on this stretch with ac close above 8103 needed to fuel the next leg of the advance.” USD/CHF closed at 8100 that week before pulling back with decline registering in intraweek low at 8010 the following week. The subsequent recovery takes USD/CHF back into pivotal resistance of a fourth consecutive week and the focus remains on possible inflection off this zone with the long-bias still vulnerable while below 8103.
Initial weekly support now rests with the monthly close low at 8037- note the median line converges on this level next week. Ultimately, a break below the March high-week close (HWC) at 8009 would be needed to threaten a deeper correction within the January uptrend towards the objective yearly open and the 52-week moving average near 7927/39 (bullish invalidation). Look for a larger reaction there IF reached.
A topside breach / weekly close above the 61.8% extension of the 2022 decline at 8103 is needed to mark uptrend resumption. 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. Strength beyond this threshold is needed to fuel the next major phase of the rally towards the 2024 lows at 8333.
Bottom line: USD/CHF is trading into a pivotal resistance zone for the fourth consecutive week and although the technical outlook remains constructive, the immediate advance remains vulnerable while below. From a trading standpoint, the focus is on a breakout of this range just above the median line- losses would need to be limited to 8009 IF price is heading for a breakout on this stretch with a close above the 75% parallel needed to fuel the next major leg of the rally.
The economic calendar is relatively light next week, leaving developments surrounding the conflict with Iran as the primary catalyst for shifts in market sentiment. Watch the weekly close for guidance here. Review my latest Swiss Franc Short-term Outlook for a closer look at the near-term USD/CHF technical trade levels.
USD/CHF Key Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Weekly Technical Charts Gold (XAU/USD) British Pound (GBP/USD) Australian Dollar (AUD/USD) US Dollar Index (DXY) Canadian Dollar (USD/CAD) Japanese Yen (USD/JPY) Euro (EUR/USD) Bitcoin (BTC/USD) --- Written by Michael Boutros, Senior Technical Strategist
The USD/CHF pair struggles to capitalize on a modest intraday uptick on Wednesday and trades around the 0.8060 area during the early European session, just above the weekly low touched the previous day.
The US Dollar (USD) struggles to attract any meaningful buyers as traders pared their bets for an immediate US Federal Reserve (Fed) rate hike in the wake of soft US inflation figures, released this week. This, in turn, acts as a tailwind for the USD/CHF pair. However, concerns about energy-driven keep Fed rate hike prospects on the table, which, along with escalating US-Iran tensions, lend some support to the safe-haven buck and should limit the downside for the currency pair.
From a technical perspective, the USD/CHF pair, so far, has managed to hold above a key horizontal resistance breakpoint, now turned support, near the 0.8000 psychological mark, and the very important 200-day Simple Moving Average (SMA). This keeps the near-term bias mildly bullish, though mixed momentum indicators warrant some caution. The Relative Strength Index (RSI) around 52 suggests a neutral-to-constructive momentum backdrop rather than overbought conditions.
However, the Moving Average Convergence Divergence (MACD) line stays below zero, hinting that upside progress is gradual and vulnerable to pauses despite the pair trading above its main trend gauge. Nevertheless, any subsequent slide is more likely to attract some buyers near the 0.8000 mark, with stronger underlying demand at the 200-day SMA near 0.7919. As long as the USD/CHF pair holds above the latter level, the broader technical structure favors bullish traders.
On the top side, the 0.8100 mark now seems to act as an immediate hurdle, above which spot prices could climb to mid-0.8100s, or the highest since July 2025, touched on Tuesday. A sustained strength beyond will set the stage for an extension of the recent upward trajectory from 0.7760 or the May swing low.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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.
HomeTechnical AnalysisIntraday Analysis 16.07.2026 Dow waiting for direction
Intraday analysis covering USDCHF(the franc) , EURJPY , and US30 , highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
USDCHF(the franc) remains indecisive
The Dollar found more resistance as price action attempts to recover from yesterday’s slump.
After a slight progression, a sharp turnaround saw sellers step back into the frame. Bulls will need to remain above 0.8060 before a recovery can materialise towards 0.8150. 0.8060 is fresh support, and its breach would invalidate any rebound and send the pair to a new low around 0.8000.
EURJPY hits another top
The Euro looks set to continue the rally after adding over 100 pips since the beginning of the week.
Bulls have doubled down after reaching the previous peak of 185.10, resuming the uptrend with 186.00 as the next milestone ahead. The RSI’s new top in the overbought zone could lead to a temporary pullback, and 185.10 is the first support level if sellers enter the market. 184.50 at the base of the recent bounce would be a crucial level to maintain the momentum. US 30 stuck in consolidation
The Dow Jones maintains its sideways stance, with price action remaining undecided.
The index is pulling back from its recent peak just below 52800 and is now testing 52500, with the RSI dropping back into the neutral area. A bearish breakout would force leveraged long positions to liquidate and lead to a correction towards 51800 at the base of the recent bottom. However, sentiment generally remains upbeat, and bulls would be looking for a stable entry point. A close back above 5300 could put the index back on track for a test at 53400.
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The USD/CHF breaks a rising wedge, tumbles over 0.62%, trading near three-day lows, as the pair clears the July 14 swing low of 0.8067. At the time of writing, the pair trades at 0.8041.
The USD/CHF trend is upwards, but the trendline break during the day has opened the door to challenge the March 31 daily high-turned-support at 0.8042.
Momentum, as measured by the Relative Strength Index (RSI) is about to turn bearish, sitting at a 50.50 reading at the brink of clearing the neutral level. This suggests that buyers had lost momentum over the last 14 trading sessions, opening the door to a challenge of key support levels.
If USD/CHF ends the day below 0.8100, this clears the path to challenge 0.8042. Below this level is the 0.8000 psychological level. Once those two levels are taken out, the next key support would be the 50-day Simple Moving Average (SMA) at 0.7961, followed by the 200-day SMA at 0.7918.
On the other hand, a bullish resumption could pave the way to test the August 1, 2025, daily peak at 0.8171, followed by the June 4, 2025, daily high of 0.8250.
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 attracts some dip-buyers on Wednesday and moves further away from the weekly trough, around the 0.8060 region set the previous day. Spot prices climb to a fresh daily high during the first half of the European session, with bulls looking to build on the momentum further beyond the 0.8100 mark.
As investors digest Tuesday's soft US Consumer Price Index (CPI) data, energy-driven inflation fears resurface as escalating US-Iran tensions and the closure of the Strait of Hormuz remain supportive of elevated crude oil prices. This bolsters US Federal Reserve (Fed) rate hike expectations and offers some support to the US Dollar (USD), which, in turn, acts as a tailwind for the USD/CHF pair and validates the near-term positive outlook.
From a technical perspective, the recent breakout through the 200-day Simple Moving Average (SMA) and subsequent strength beyond the 0.8000 psychological mark were key triggers for bullish traders. Moreover, the Relative Strength Index keeps a constructive bullish tone and stays in positive territory near 58 without yet signaling overbought conditions. This further suggests that underlying demand remains firmly in play.
However, the Moving Average Convergence Divergence (MACD) indicator sits slightly below the zero line with a modestly negative reading, hinting that upside momentum is not fully convincing despite the supportive price structure. Nevertheless, the broader bias would likely stay tilted to the upside as long as the USD/CHF pair holds above the key SMA, with any pullbacks toward 0.8000 seen as a potential opportunity for bullish traders.
Furthermore, the 200-day SMA around 0.7919 might now act as an important technical floor should spot prices retreat further, and a convincing break below would be needed to shift the near-term bias in favor of bearish traders. On the topside, a move above the 0.8145-0.8150 region, or the highest since July 2025, touched on Tuesday, will set the stage for an extension of the recent upward trajectory from 0.7760 or the May swing low.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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 tumbles by 0.70% on Tuesday, trading at 0.8093, as the latest US inflation report prompted market participants to pare hawkish bets that the Federal Reserve might cut the Fed funds rate this year.
Price action indicates the uptrend remains intact. The market structure of higher highs and higher lows remains intact despite the USD/CHF dip below the 0.8100 mark following the release of macroeconomic data.
Momentum favours further upside as the Relative Strength Index (RSI) is bullish above its 50-neutral level.
That said, if USD/CHF registers a daily close above 0.8100, a potential move towards the high of the day (HOD) at 0.8152 is on the cards. If its cleared, the August 1, 2025, daily high at 0.8171 is up next, before traders challenge the 0.8200 mark. Above lies the psychological 0.8250 and 0.8300.
The first support is the low of the day (LOD) at 0.8060. A breach of the latter will expose the July 10 swing low of 0.8030. On further weakness, the next support is the July 2 daily low of 0.8010.
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 (USD) is trading practically flat against the Swiss Franc (CHF) on Tuesday, consolidating gains after a 0.7% rally on Monday, boosted by rising geopolitical tensions and hawkish Comments by Federal Reserve (Fed) Governor Christopher Waller.
Waller said on Monday that the Fed would have to tighten its monetary policy in the near-term if inflation remains above the 2% target. Investors brought forward rate hike bets, following Waller's comments, and sent the US Dollar higher across the board.
The focus on Tuesday is on June’s US Consumer Price Index (CPI), which is highly likely to confirm Waller’s expectations with figures well beyond target. These data are likely to frame the first session of Fed Chairman Kevin Warsh’s testimony before Congress, which is due later on the day. The risk is skewed to the upside for the US Dollar.
Technical Anañysis: The next bullish target is the 0.8170 area
USD/CHF broke the year-to-date high at 0.8130, confirming that the corrective reaction of the last two weeks has been completed, with the impulsive candle on the daily chart suggesting that bulls have taken control. Momentum indicators support this view, with the 14-day Relative Strength Index (RSI) in positive territory without yet reaching extreme overbought levels, and the Moving Average Convergence Divergence (MACD) line attempting to cross the Signal line, which is a bullish sign.
Immediate resistance is at the mentioned high, at 0.8150, although the confluence of the July 2025 top and the 127.2% Fibonacci retracement of the late June-early July reversal, at 0.8170, seems a more plausible target. Further up, the 161.8% Fibonacci retracement of the mentioned cycle is at 0.8210.
A confirmation below the previous YTD high, in the 0.8130 area, is likely to find support at the 0.8070-0.8080 area, where the bottom of the ascending channel from early June lows meets Monday's lows. Below here, bullish momentum would fade, and the July 2 low, near 0.8010, would return to the focus.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
US Dollar Price This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Swiss Franc.
USDEURGBPJPYCADAUDNZDCHFUSD0.04%0.23%0.36%-0.39%0.10%-0.55%0.69%EUR-0.04%0.18%0.33%-0.44%0.01%-0.60%0.65%GBP-0.23%-0.18%0.11%-0.61%-0.17%-0.77%0.51%JPY-0.36%-0.33%-0.11%-0.82%-0.26%-0.95%0.28%CAD0.39%0.44%0.61%0.82%0.57%-0.12%1.13%AUD-0.10%-0.01%0.17%0.26%-0.57%-0.61%0.54%NZD0.55%0.60%0.77%0.95%0.12%0.61%1.30%CHF-0.69%-0.65%-0.51%-0.28%-1.13%-0.54%-1.30% 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 posts moderate gains against the Swiss Franc (CHF) on Monday, yet with price action contained within the last two weeks’ trading range, and with the 0.8100 level capping bulls for now. The long wicks in the daily chart highlight a hesitant market, as investors ponder the impact of the latest US-Iran hostilities on the peace process.
US and Iran ramped up their reciprocal attacks over the weekend, and the Iranian Islamic Revolutionary Guard Corps (IRGC) announced the closure of the Strait of Hormuz, sending Oil prices higher and pressuring global central banks to tighten their monetary policies. The US Dollar, however, is failing to draw support from the risk-off market mood so far.
Investors might be reluctant to place large USD longs ahead of the release of June’s US Consumer Price Index (CPI) figures. This report is expected to frame the Federal Reserve (Fed) Chairman Kevin Warsh’s testimony to Congress, also due this week, which will provide further insight into the central bank's monetary policy plans.
USD/CHF trades at 0.8077, holding a mildly bullish near-term tone although it remains trapped within the last three weeks' range. The four-hour Relative Strength Index, around 52, and a slightly positive Moving Average Convergence Divergence (MACD) histogram hint at modest upward momentum, although bulls are struggling to find acceptance above 0.8100.
Above that level, the year-to-date high, at 0.8134, and the August 2025 high, just above 0.8170, would be the next targets. A break below the 38.2% Fibonacci retracement of the May-June rally, at 0.8000, would anticipate a deeper correction toward the June 18 low, and the 50% retracement in the 0.7980-0.7970 area ahead of the 61.8% Fibonacci retracement, at 0.7925.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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-0.20%0.02%0.26%-0.13%0.18%-0.35%-0.10%EUR0.20%0.23%0.46%0.07%0.39%-0.11%0.12%GBP-0.02%-0.23%0.26%-0.16%0.18%-0.32%-0.07%JPY-0.26%-0.46%-0.26%-0.40%-0.08%-0.58%-0.30%CAD0.13%-0.07%0.16%0.40%0.33%-0.15%0.10%AUD-0.18%-0.39%-0.18%0.08%-0.33%-0.46%-0.20%NZD0.35%0.11%0.32%0.58%0.15%0.46%0.26%CHF0.10%-0.12%0.07%0.30%-0.10%0.20%-0.26% 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 is trading lower against the Swiss Franc (CHF) on Thursday, as investors ponder the consequences of reciprocal US and Iran attacks and a 10% rebound in Oil prices, on the major central banks' monetary policies. The USD/CHF pair has retreated to levels near 0.8050 after being rejected at 0.8100 on Wednesday.
The Swiss Franc is drawing some support from a mild US Dollar weakness, as the Dollar Index (DXY) dips below 101.00 to test weekly lows. Investors sold the Greenback across the board on Wednesday, following the release of the Federal Reserve’s minutes, unimpressed with the central bank’s commitment to bring inflationary pressures back to target.
Geopolitical tensions are also failing to support the safe-haven US Dollar on Thursday. A second round of reciprocal attacks between the US and Iran cast further doubt on a negotiated end of the war, and have boosted a nearly 10% increase in Oil prices. Investors, however, remain hopeful that Washington and Tehran will return to the negotiating table, which is keeping USD bulls subdued so far.
Technical Analysis: In a bearish correction from June's highs
The USD/CHF printed a lower high on Wednesday, at 0.8108, confirming that the corrective phase from late-June highs remains in play. Momentum indicators in four-hour charts show a weakening stance, with the Relative Strength Index (14) entering bearish territory at 46.1 and the Moving Average Convergence Divergence (MACD) slipping back towards the zero line, hinting at fading bullish momentum.
The pair is likely to find some support above the July 7 lows near 0.8045, although the key support level is at the 0.8000 psychological area, where the July 2 and 3 lows meet the 38.6% Fibonacci retracement of June's rally.
On the topside, initial resistance is located at July's peaks, in the 0.8110-0.8120 area. A confirmation above these levels would hint at the end of the corrective phase and expose the one-year high, at 0.8139, hit on June 24.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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 Canadian Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.17%-0.22%-0.16%-0.03%-0.11%-0.50%-0.24%EUR0.17%-0.05%0.00%0.14%0.08%-0.30%-0.06%GBP0.22%0.05%0.04%0.18%0.12%-0.26%-0.01%JPY0.16%0.00%-0.04%0.11%0.08%-0.33%-0.07%CAD0.03%-0.14%-0.18%-0.11%-0.05%-0.44%-0.19%AUD0.11%-0.08%-0.12%-0.08%0.05%-0.38%-0.15%NZD0.50%0.30%0.26%0.33%0.44%0.38%0.25%CHF0.24%0.06%0.00%0.07%0.19%0.15%-0.25% 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 recoils after reaching a five-day high of 0.8108 on Wednesday, edging down some 0.02% as risk appetite deteriorates due to US President Donald Trump’s suggestion of an end to the ceasefire, as Iran attacked ships on Tuesday. At the time of writing, the pair trades at 0.8078, following a false breakout above 0.8100.
After forming a ‘morning star’ at the beginning of the week and testing 0.8100, the USD/CHF pair is now retreating below that level. Nevertheless, bullish momentum remains intact, as the Relative Strength Index (RSI) is bullish but shows signs of fading.
For a bullish continuation, USD/CHF needs to clear the high of the day at 0.8108, followed by the July 1 peak at 0.8120. On further strength, the next area of interest would be 0.8200, followed by the June 4, 2025, daily high at 0.8250. Above this level lies 0.8300.
On the flip side, if USD/CHF tumbles below the 0.8000 psychological figure, it could exacerbate a move towards the 50-day Simple Moving Average (SMA) at 0.7934 ahead of the 200-day SMA at 0.7915. Below is the 0.7900 figure.
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.
USDCHF currency pair reversed from the support zone between the pivotal support level 0.8030 (former strong resistance from January and March), 38.2% Fibonacci correction of the upward impulse from May and the support trendline of the daily up channel from May.
The upward reversal from this support area started the active short-term impulse wave iii from the start of July.
Given the bullish US dollar sentiment seen across the FX markets today, USDCHF currency pair can be expected to rise to the next resistance level 0.8130 (which stopped earlier impulse wave i).
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The US Dollar (USD) trades higher for the second consecutive day against the Swiss Franc (CHF). Downdside attempts remain shallow so far, amid a calm market mood, and the immediate trend shows a mild bullish stance, with resistance at the 0.8075 area under pressure.
On the macroeconomic front, data from the Swiss National Bank revealed that Foreign Currency Reserves rose to CHF759 billion in June, from CHF 711 billion in May.
The Swissie, however, remains weighed by the downbeat employment figures released on Monday, which showed that the Unemployment Rate rose to a five-year high of 3.1%. Later in the day, the US ISM Services Purchasing Managers Index (PMI) met expectations with solid growth in activity, while the S&P Global Services PMI revealed an unexpected slowdown.
Technical Analysis: Looking for direction above 0.8050
USD/CHF is in a corrective phase after completing a 5-wave (Elliot Wave) bullish cycle, with momentum indicators showing mixed signals. The daily chart reflects a constructive Relative Strength Index (14), near 58, while the Moving Average Convergence Divergence (MACD) has slipped marginally into negative territory.
Bulls need to break resistance around 0.8075 (June 26, 30 lows and July 6 high) to confirm the completion of the corrective phase, and shift focus towards the late June and early July highs, between 0.8120 and 0.8135.
On the downside, a bearish reaction below 0.8045 session lows would add pressure towards Friday's trading floor at the 0.8010 area. If this level gives way, an A-B=C-D correction would target the 61.8% Fibonacci retracement off the bullish run, just above 0.7900.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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 Japanese Yen.
USDEURGBPJPYCADAUDNZDCHFUSD0.10%-0.23%0.37%0.17%-0.06%0.39%0.43%EUR-0.10%-0.36%0.26%0.04%-0.13%0.25%0.28%GBP0.23%0.36%0.50%0.39%0.23%0.61%0.63%JPY-0.37%-0.26%-0.50%-0.24%-0.32%0.02%0.02%CAD-0.17%-0.04%-0.39%0.24%-0.10%0.27%0.24%AUD0.06%0.13%-0.23%0.32%0.10%0.38%0.41%NZD-0.39%-0.25%-0.61%-0.02%-0.27%-0.38%0.02%CHF-0.43%-0.28%-0.63%-0.02%-0.24%-0.41%-0.02% 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).
HomeTechnical AnalysisIntraday Analysis 07.07.2026 Dax sets a new record
Intraday analysis covering USDCHF , EURJPY , and GER40(The DAX) , highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
USDCHF finds support
The dollar strengthened across the board as risk appetite remained volatile.
The pair has seen price action slide in recent sessions before finding support. A move below 0.8020 would keep bears in the game by prompting buyers to reconsider after the bearish downturn for most of last week. 0.8130 is a fresh target ahead and could then lead towards a new high at 0.8180. EURJPY hits resistance
The euro remains precarious after jumping over 100 pips, as sentiment remains upbeat, with the price grinding the mid-185.00 region.
The pair will need to clear 185.65 to maintain the current momentum towards 186.00. Buyers will be worried if the overall sentiment turns bearish, should there be a heavy rejection. On the downside, 185.00 and then 184.20 need to be broken before sellers can realistically hope for a full reversal. GER40 hits another higher high
GER40(The DAX) remains bullish even though prices have hit a slight retracement.
A move away from the psychological level of 26000 has pushed the index into consolidation mode. After the RSI moved towards the neutral area, if the bearish momentum remains intact, a deeper retracement could send the price to 25500. On the upside, the recent peak above 25900 is a firm obstacle to keep the continuation going.
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Market Strategist at Orbex David Kindley is a renowned fundamental analyst with over 10 years of trading experience in the financial markets. With a keen eye for macroeconomics and a special focus on trading psychology, David is passionate about helping everyday investors make informed trading decisions through his thorough research and analysis.
