Swiss Franc Technical Outlook: USD/CHF Reversal Puts Major Support in Focus
USD/CHF bears are looking to build on last week’s sharp reversal, with a looming support test threatening the broader recovery.
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Swiss Franc Technical Outlook: USD/CHF Multi-Timeframe Analysis
The USD/CHF technical outlook shifted when a U.S. CPI print sparked an outside weekly reversal from yearly highs, pulling the pair back roughly 2%. Michael Boutros, StoneX Media Senior Market Analyst, walks through the weekly, daily, and four-hour USD/CHF charts and the pivot zone now defining the trade. Daily RSI has slipped below 50 for the first time since August, tilting momentum toward the bears. A break of a pivot zone that aligns Fibonacci levels with the July swing high would mark a deeper correction within the yearly uptrend. With little event risk on the Swiss side, the Federal Reserve rate decision and core PCE inflation data now drive the dollar against the Swiss franc.
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.
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--- Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
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