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USD/CHF holds around 0.8034 as bearish flag support nears 0.8000
The pair is pressured by a bearish flag structure, and a break below 0.8000 could steer price toward 0.8076, the 50-day SMA.
USD/CHF traded near the top of a bearish flag pattern on Thursday, holding around 0.8034 following softer producer inflation data.
The technical setup leaves the market split, with the upside trend of higher highs and higher lows still intact even as momentum has flattened, according to FXStreet.
FXStreet said buyers may need to be cautious if USD/CHF falls below 0.8000, with initial support cited at 0.8094, then the 50-day Simple Moving Average near 0.8076.
On the upside, the forecast calls for a continued attempt higher only if the pair clears the bearish flag’s top trendline near 0.8140 to 0.8145, targeting 0.8200 and then levels including the June 19, 2025 daily high at 0.8215.