US Dollar Forecast: USD/CHF Falls Toward Monthly Low
USD/CHF is on track to test the monthly low (0.8186) as it carves a series of lower highs and lows.
Share this:
US Dollar Outlook: USD/CHF
USD/CHF is on track to test the monthly low (0.8186) as it carves a series of lower highs and lows.
US Dollar Forecast: USD/CHF Falls Toward Monthly Low
USD/CHF seems to have reversed ahead of the ahead of the 50-Day SMA (0.8460) as it snaps the range bound price action from last week, and the exchange rate may continue to track the negative slope in the moving average as it holds below the indicator.
Join David Song for the Weekly Fundamental Market Outlook webinar.
David provides a market overview and takes questions in real-time. Register Here
With that said, USD/CHF may struggle to retain the rebound from the yearly low (0.8040) as it extends the decline from the start of the week, but the exchange rate may consolidate over the remainder of the week should it defend the monthly low (0.8186).
USD/CHF Price Chart – Daily
Chart Prepared by David Song, Senior Strategist; USD/CHF Price on TradingView
- USD/CHF falls to a fresh weekly low (0.8210) as it snaps the range bound price action from last week, with a breach of the monthly low (0.8186) raising the scope for a move toward 0.8080 (23.6% Fibonacci retracement).
- Failure to hold the yearly low (0.8040) may push USD/CHF toward 0.7810 (161.8% Fibonacci extension), but USD/CHF may continue to trade within the April range should it defend the monthly low (0.8186).
- Need a move above 0.8360 (100% Fibonacci extension) to bring the monthly high (0.8476) on the radar, with the next area of interest coming in around 0.8550 (78.6% Fibonacci extension) to 0.8590 (78.6% Fibonacci extension).
Additional Market Outlooks
GBP/USD Rallies to Fresh Yearly High as UK CPI Shoots Higher
US Dollar Forecast: EUR/USD Bounces Back Ahead of Monthly Low
Canadian Dollar Forecast: USD/CAD Falls amid Sticky Canada Inflation
USD/JPY Decline Persists amid US Credit Rating Downgrade
--- Written by David Song, Senior Strategist
Follow on Twitter at @DavidJSong
Related tags:
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
Silver Forecast: Is XAG/USD Finally Finding a Bottom
Silver is showing some encouraging signs after an initially weak start to the session. The metal dropped to a new year-to-date low below the $53 handle, reaching $52.60 before staging a sharp recovery.
Gold forecast: Can XAU/USD hold $4000 support?
Gold has started the week trying to stabilise around the $4,000 level after last week’s 4% drop that saw the metal briefly drop and close below this psychological hurdle.
USD/JPY bulls back in business as AI trade roars back
The AI investment boom rolls on, with Anthropic and Meta helping revive enthusiasm across Wall Street. USD/JPY has responded with a bullish reversal pattern, putting its former trading range back in focus ahead of major central bank decisions and technology earnings.
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.