CHF – USD/CHF Tests 0.80 Level

The USD/CHF pair reached a high of 0.8044 at the end of March, while the previous high was 0.8042 on January 15. The pair is now gradually approaching this area again. The short-term resistance will be seen at 0.80 level; if it fails to break through this level, it will likely decline again. Near-term support is seen at the 250-day moving average at 0.7930 and 0.7870, with the next levels at 0.7760 and 0.7670. The 0.76 level, which has held firm this year, remains crucial. The greater resistance will be seen at the level of 0.8000/0.8050, with the next levels at 0.8150 and 0.8250.

Forecast range:
Resistance 0.8000/50* - 0.8150 – 0.8250
Support 0.7930 – 0.7870 - 0.7760 – 0.7670 - 0.7600**

This Week's Key News:
Swiss May Producer/Import Price Index MoM -0.4%, YoY -1.8%

Focus:
Thursday
Swiss May Trade Balance (14:00)
Swiss National Bank Interest Rate Decision (15:30)

Any questions? contact our professional analysis team