Swiss Franc Short-term Outlook: USD/CHF Bulls Emerge at Support
US Dollar is attempting to snap a four-day losing streak with USD/CHF rebounding off technical support. Battle lines drawn on the short-term technical charts into NFPs.
Share this:
Swiss Franc Technical Forecast: USD/CHF Short-term Trade Levels
- USD/CHF sell-off rebounds off technical support- poised to mark outside-day reversal
- USD/CHF risk for exhaustion / price inflection into downtrend resistance- NFPs on tap
- Resistance 8264/79, 8333/54 (key), 8416/30 - Support 8316/33, 8264 (key), 8207
The US Dollar is poised to rally 0.8% against the Swiss Franc today with USD/CHF rebounding off technical support. The reversal is now approaching the first major hurdle at downtrend resistance the focus is on the weekly / monthly opening-range as we head into NFPs on Friday. Battles lines drawn on the USD/CHF short-term technical charts.
Review my latest Weekly Strategy Webinar for an in-depth breakdown of this USD/CHF setup and more. Join live on Monday’s at 8:30am EST.
Swiss Franc Price Chart – USD/CHF Daily
Chart Prepared by Michael Boutros, Sr. Technical Strategist; USD/CHF on TradingView
Technical Outlook: In my last Swiss Franc Short-term Outlook we noted that USD/CHF had, “responded to near-term uptrend resistance on Monday with the weekly opening-range preserved just below. From a trading standpoint, losses would need to be limited to the monthly open IF price is heading higher on this stretch..” Price broke lower the following week with the decline extending nearly 3.8% off the May high before rebounding off support today at the 61.8% extension near 8170. USD/CHF is now poised to mark an outside-day reversal off the lows and the focus is on this near-term recovery.
Swiss Franc Price Chart – USD/CHF 240min
Chart Prepared by Michael Boutros, Sr. Technical Strategist; USD/CHF on TradingView
A closer look at Swisse price action shows USD/CHF trading within confines of a descending pitchfork extending off the May high. A rebound off the 25% parallel on Monday is now approaching resistance at the May open / 38.2% retracement at 8264/79- look for a reaction there IF reached. Ultimately a breach / close above the 2023 low / 61.8% retracement at 8333/54 is needed to suggest a more significant low is in place / a larger reversal is underway. Subsequent resistance objective eyed at the 2024 open / low-day close (LDC) near 8416/30 and the 38.2% retracement of the yearly range at 8484.
A break of the weekly opening-range lows would threaten resumption of the monthly downtrend towards the yearly low-day close / 61.8% extension of the 2022 decline at 8092-8103 and the 100% extension at 8060- both levels of interest for possible downside exhaustion / price inflection IF reached.
Bottom line: USD/CHF has rebounded off near-term technical support with price now approaching confluent downtrend resistance. From at trading standpoint, losses should be limited to the median-line IF price is heading higher on this stretch with a close above 8280 needed to fuel the next leg.
Keep in mind we are in the early throws of the June opening-range with U.S. Non-Farm Payrolls on tap Friday. Stay nimble into the release and watch the weekly close here for guidance. Review my latest Swiss Franc Weekly Forecast for a closer look at the longer-term USD/CHF technical trade levels.
USD/CHF Key Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts
- Gold Short-term Outlook: XAU/USD Poised for June Breakout
- Japanese Yen Short-term Outlook: USD/JPY Retreats from Resistance
- Canadian Dollar Short-term Outlook: USD/CAD Reversal Risk Builds
- US Dollar Short-term Outlook: USD Reversal Keeps 2025 Downtrend Intact
- British Pound Short-term Outlook: GBP/USD Threatens Major Breakout
- Australian Dollar Short-term Outlook: AUD/USD Breakout Imminent
- Euro Short-term Outlook: EUR/USD Recovery Stalls at Trend Resistance
--- Written by Michael Boutros, Sr Technical Strategist
Follow Michael on X @MBForex
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
USD/JPY Weekly Outlook: AI earnings could overshadow the Fed and BoJ
AI sentiment has become a major driver of US Treasury yields and USD/JPY. With Microsoft, Alphabet and Amazon reporting this week, central bank decisions may have competition for traders' attention.
Silver forecast: metals liquidation drags XAG/USD into $50-55 support
Silver has broken its July low and slipped into a long-term support zone as the selling in precious metals deepens. The chart shows where the metal could bottom, and next week's Fed decision may decide whether it does.
Australian Dollar Forecast: AUD/USD Support Reversal Sparks Monthly Range Breakout 10 23 2026
A sharp reversal off key support has fueled the AUD/USD recovery, with resistance now in focus ahead of next week’s Fed decision and Australian CPI.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.