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USD/CHF slips near 0.8074 as USD rebound loses momentum
The pair failed to break above 0.8150, leaving support clustered around 0.8000 and the 100- and 200-day SMAs near 0.7920 and 0.7919.
USD/CHF traded with a downside bias on Friday as the Swiss franc outperformed major currency peers while the US dollar was little changed, with the pair around 0.8074 after hitting 0.8149 earlier this week.
Technically, the pair remains in an uptrend, holding above its key moving averages and above the 0.8000 psychological level. However, buyers have struggled to clear multi month resistance at 0.8150, suggesting the May driven rally is losing momentum.
On the daily chart, the 100-day and 200-day simple moving averages sit near 0.7920 and 0.7919, forming a deeper demand zone if the pullback extends. Momentum signals are mixed, with RSI near 54 and MACD slightly negative, while support is initially flagged at 0.8000.
Immediate resistance is at 0.8150, and a sustained move above that level could extend the recovery, while another rejection would likely keep USD/CHF consolidating above 0.8000, according to FXStreet’s technical outlook.