Forex
Home›Forex›Major Pairs›USD/CHF breaks below rising wedge, tests key support n…
USD/CHF breaks below rising wedge, tests key support near 0.8042
The pair is down more than 0.6% and, if it holds below 0.8100, the next levels on the downside include 0.8000 and the 50-day and 200-day moving averages near 0.7961 and 0.7918.
USD/CHF has broken down from a rising wedge and is trading near three-day lows, after falling 0.62% on Wednesday, according to FXStreet.
The move cleared the July 14 swing low at 0.8067, putting attention on the March 31 daily high-turned-support area at 0.8042, where momentum is also softening as the Relative Strength Index hovers just above 50.0.
FXStreet notes that a daily close below 0.8100 would clear the way to challenge 0.8042, with the 0.8000 level next if that support gives way.
On the upside, the article says a bullish reversal could bring a retest of the August 1, 2025 peak at 0.8171, followed by the June 4, 2025 high at 0.8250.