Detailed FX Market Outlook and Analysis

USD/CHF Downtrend Deepens

USDCHF Analysis

USD/CHF Analysis

The depreciation of USD/CHF is gaining momentum, maintaining a persistent downtrend. Should the ongoing decline extend beyond the 100% projection level, calculated from the range of 0.9111 to 0.8665 based on the starting point of 0.8819, the subsequent target lies at the 138.2% projection, pinpointing a potential further descent to 0.8203. A breach above the 0.8513 minor resistance would temporarily shift the intraday bias to a neutral stance. However, the overall outlook remains bearish, contingent upon the resilience of the 0.8665 support turned resistance during a potential recovery phase.

The breach of the 0.8551 support signifies a resumption of the overall downtrend from the 2022 high of 1.0146. The subsequent target is identified at the 61.8% retracement level of the decline from 1.0146 to 0.8551, located at 0.8257. A sustained breach at this level could trigger a more rapid decline, targeting the 100% projection at 0.7648. This scenario retains its preference as long as the resistance at 0.8819 remains intact.

Analysis Summary

The USD/CHF pair is experiencing a heightened downward momentum, with a potential extension towards the 138.2% projection level at 0.8203. The overall bearish outlook persists, marked by the breach of key support levels and a focus on downside targets. Resistance at 0.8665 remains pivotal for any potential recovery.

Key Points

  1. Accelerated decline in USD/CHF suggests a bearish bias, with a target at 138.2% projection (0.8203).
  2. A break of 0.8551 support indicates a broader downtrend, targeting 61.8% retracement at 0.8257.
  3. The sustained bearish outlook hinges on the resistance at 0.8665, maintaining pressure on the downside.

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