CHF – USD/CHF Retreats After Rally

The USD/CHF pair reached a high of 0.8044 at the end of March, while the previous top was at 0.8042 on January 15th. The current price is above this level, potentially triggering another upward move. Major resistance is seen at 0.8150, which was already touched earlier this week. Further resistance is expected at the 100-week moving average of 0.8255 to 0.8365, with a key level at 0.85. Nearby support is seen at 0.80 and the 50-day moving average of 0.7965, with the next levels expected at the 250-day moving average of 0.7930 and 0.7870. Major support is estimated at the 0.7760 level.

Forecasted range:
Resistance: 0.8150* – 0.8255 – 0.8365 - 0.8500
Support: 0.8000 - 0.7965 - 0.7930 – 0.7870 - 0.7760

Key Focus:
Monday
Swiss June Trade Balance (14:00)

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