CHF – USD/CHF retreated after hitting a high

The USD/CHF reached a high of 0.8044 at the end of March, while the previous high was 0.8042 on January 15th. The pair is now gradually approaching this area again, which will be considered a significant short-term resistance level. Therefore, if the pair fails to break through this area, it will likely decline again. Near-term support levels are at 0.7760, 0.7670, and 0.76, which has held firm this year. The 0.76 level remains crucial. Resistance is seen at the 200-day moving average of 0.7910, with key levels at 0.8000/0.8050, and the next level at 0.8150.

Forecast range:
Resistance: 0.7910 -0.8000/50* - 0.8150
Support: 0.7760 – 0.7670 - 0.7600**

Key Focus:
Monday
Switzerland April Retail Sales YoY (14:30)
Switzerland Q1 GDP QoQ (15:00)
Switzerland May PMI (15:30)

Tuesday
Switzerland April Trade Balance (14:00)

Thursday
Switzerland May CPI (14:30)
Switzerland May Unemployment Rate (15:00)
 

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