US Dollar Forecast: USD/CHF Susceptible to Test of Monthly Low
USD/CHF appears to be on track to test the monthly low (0.9009) following the failed attempt to test the 2024 high (0.9225).
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US Dollar Outlook: USD/CHF
USD/CHF appears to be on track to test the monthly low (0.9009) following the failed attempt to test the 2024 high (0.9225).
US Dollar Forecast: USD/CHF Susceptible to Test of Monthly Low
USD/CHF extends the recent series of lower highs and lows to register a fresh weekly low (0.9033), and the exchange rate may fall towards the 50-Day SMA (0.8959) should it push below the opening range for January.
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In turn, USD/CHF may struggle to retain the advance from the December low (0.8736), but the exchange rate may continue to track the positive slope in the moving average as it still holds above the indicator.
With that said, USD/CHF may stage further attempts to test the 2024 high (0.9225) if it defends the monthly low (0.9009) and snaps the recent series of lower highs and lows.
USD/CHF Price Chart – Daily
Chart Prepared by David Song, Senior Strategist; USD/CHF Price on TradingView
- USD/CAD may defend the monthly low (0.9009) as it holds above the 0.9030 (38.2% Fibonacci extension) to 0.9040 (23.6% Fibonacci extension) region, with a move back above 0.9180 (23.6% Fibonacci extension) bringing the monthly high (0.9201) on the radar.
- Next area interest comes in around the 2024 high (0.9225), but USD/CHF may push below the opening range for January if it continues to carve a series of lower highs and lows.
- Failure to hold above the above the 0.9030 (38.2% Fibonacci extension) to 0.9040 (23.6% Fibonacci extension) region may push USD/CHF to fresh monthly lows, with a break/close below the 0.8880 (38.2% Fibonacci retracement) to 0.8910 (38.2% Fibonacci extension) zone opening up the 0.8770 (61.8% Fibonacci extension) to 0.8800 (50% Fibonacci extension) area.
Additional Market Outlooks
EUR/USD Pushes Above 50-Day SMA for First Time Since October
USD/JPY Slips to Fresh Monthly Low Ahead of BoJ Rate Decision
USD/CAD Spikes to Fresh Monthly High as Trump Prepares Canada Tariff
GBP/USD Pullback Pushes RSI Toward Oversold Territory
--- Written by David Song, Senior Strategist
Follow on Twitter at @DavidJSong
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