CHF – USD/CHF breaks below technical support, maintaining its downward trend

USD/CHF reached a high of 1.8044 at the end of March, while the previous high was 0.8042 on January 15th. This month has seen a significant pullback, which has also caused the RSI and Stochastic Oscillator to turn downwards, indicating downward pressure on the dollar. With the short-term uptrend line and the 25-day moving average just broken at the beginning of last week, this further confirms the dollar's downward trend. The next targets are the 100-day moving average at 0.78 and 0.7740, with the next level at 0.7670. The 0.76 level, which has held firm this year, remains crucial. Resistance levels to watch are 0.8000/0.8050, with stronger resistance at 0.8090 and 0.8130, and the next level forecasted to 0.82.

Forecasted range:
Resistance 0.8000 - 0.8050 – 0.8090 – 0.8130 – 0.8200
Support 0.7800 – 0.7740 – 0.7670 - 0.7600**

Key Focus:
Tuesday
Swiss March Trade Data (14:00)

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