Swiss Franc Technical Outlook: USD/CHF Poised for Breakout
USD/CHF is trading in a tight weekly opening range just above uptrend support ahead of NFP. The breakout could fuel the next leg in trend.
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Swiss Franc Technical Outlook: USD/CHF Multi-Timeframe Analysis
USD/CHF is pressing against confluent resistance on the monthly, weekly, and daily charts, keeping the Swiss franc on the back foot as it coils. Michael Boutros, Senior Market Analyst at FOREX.com, breaks down the multi time frame picture for USD/CHF and the US data steering the US dollar. He walks through what a break of the weekly opening range would mean for USD/CHF, and why the broader dollar uptrend stays intact even on a pullback, leaving the Swiss franc under pressure. He also looks at how the upcoming U.S. nonfarm payrolls and U.S. consumer price index reports could move the U.S. dollar, and how shifting Federal Reserve rate expectations have taken momentum out of the greenback.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
Key USD/CHF Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts
- US Dollar Short-term Outlook: USD Correction Pressures Pivotal Support
- Euro Short-term Outlook: EUR/USD Breakout Risk Builds Into Month-End
- Canadian Dollar Short-term Outlook: USD/CAD Rebound Challenges the July Downtrend
- Australian Dollar Outlook: AUD/USD Rally Tests Make-or-Break Resistance
- Japanese Yen Short-term Outlook: USD/JPY Defends the Uptrend as the Range Tightens
- British Pound Short-term Outlook: GBP/USD Breakout Attempts Major Trend Reversal
--- Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
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