USD/CHF Daily Forex Analysis
In this daily forex analysis, we’re turning our attention to the USD/CHF pair. Although there’s potential for further decline, strong support is anticipated at 0.8760, which could limit the downward movement. On the upside, a break of 0.8904 – former support turned resistance – could pivot the intraday analysis back toward a possible rebound. However, if a decisive breakthrough of 0.8760 occurs, it would carry a significant bearish implication.
Zooming out to the bigger picture, the fall from 1.1050 (the high of 2022) is considered to be part of the long-term range pattern originating from 1.0346 (the high of 2016). Although we cannot rule out the possibility of additional decline, robust support at 0.8760 should act as a buffer, potentially triggering a reversal. A firm break through the 0.9150 resistance level would likely confirm medium-term bottoming.
USD/CHF Daily Analysis Summary
In summary, the USD/CHF intraday analysis suggests the potential for further decline, but strong support at 0.8760 could limit this downward movement. A break of 0.8904 could suggest a rebound, while a decisive break below 0.8760 carries bearish implications. From a longer-term perspective, a firm break of 0.9150 would likely confirm a medium-term bottom.
Key takeaways
- USD/CHF intraday analysis suggests the potential for further decline, but firm support at 0.8760 may limit the downside.
- A break above 0.8904 could pivot the intraday bias toward a rebound.
- In the longer term, further decline is possible, but a decisive break above 0.9150 could confirm a medium-term bottom.
