CHF – Dollar/Swiss franc holds above 0.80

The USD/CHF pair has been ranging recently. If it can continue to hold above the 0.8150 level, it may trigger another round of extended upward momentum. The bigger resistance zone is expected to be around the 100-week moving average, at 0.8245–0.8365, with a key focus on the 0.85 level.

On the downside, the 0.80 level is expected to act as the reference point. The choppy up-and-down action throughout July has also been trading above this area; therefore, a breakdown could open the door to a more meaningful correction. The next downside area is likely to be around the 250-day moving average at 0.7935 and 0.7870, while the larger support is forecast at 0.7760.

Forecast range:
Resistance: 0.8150 – 0.8245 – 0.8365 – 0.8500
Support: 0.8000* – 0.7935 – 0.7870 – 0.7760

Key focus:
Thursday: Switzerland July Producer/Import Prices (14:30)

Any questions? contact our professional analysis team