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USD/CHF edges higher as bears keep control below 0.8000

The pair is down more than 1.49% on the week, after US yields fell midweek amid efforts to cap elevated 30-year Treasury yields.

Reported · Written up by our desk · Major Pairs

USD/CHF rose 0.07% on Friday to trade around 0.8010, but the week ended with losses of more than 1.49%, according to FXStreet.

The move followed a drop in US yields on Wednesday, with FXStreet noting that the US Treasury is trying to cap elevated yields on the 30-year bond.

Technical levels are being watched closely, with the 50-day and 100-day SMAs at 0.8086 and 0.7976, respectively, while the RSI suggests bearish pressure is still dominant.

FXStreet flagged 0.8000 as the first support level, with a break lower opening levels tied to the 100-day SMA and the August 20 low near 0.7949, while resistance is seen around the 0.8086 50-day SMA and higher toward 0.8100.

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