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USD/CHF stays neutral, traders watch 0.8009 support

Action Forex expects rallies to persist while 0.8009 holds, with downside risk toward the 55-day EMA near 0.7960 if it breaks.

Reported · Written up by our desk · Major Pairs

Action Forex said the intraday outlook for USD/CHF remains neutral, but with a continued rally favored as long as the 0.8009 support level holds.

The outlet flagged that a move above 0.8139 could extend the rebound range from 0.7760, pointing to a 100% projection between 0.7603 and 0.8041, followed by another upside target around 0.8198.

On the downside, Action Forex warned that a sustained break below 0.8009 would likely trigger a deeper drop toward the 55-day EMA, cited near 0.7960, and could also take the pair below that level.

In the broader view, the outlet said the medium-term bottom at 0.7603 is not yet enough to call a bullish trend reversal, adding that firm acceptance above/below key retracement levels would determine whether the larger downtrend continues or the outlook shifts toward a 0.8332 level turned resistance.

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