CHF – A breakout from the Swiss franc's range is expected to extend its strength

The USD/CHF has weakened recently, falling to a six-week low below 0.7920 on Tuesday. Despite pressure from the Federal Reserve to cut interest rates, the Swiss National Bank is expected to maintain its policy rate at zero on September 25th. The Swiss franc's negative interest rate threshold is considered high, providing some support for the currency, but market focus remains on U.S. monetary policy trends. Technically, the USD/CHF has initially broken below range support at 0.7950, while the RSI and Stochastics remain downward, suggesting further downward pressure. The major support is expected at 0.7860 and 0.78, with 0.7750 and 0.77 expected to follow. The resistance is expected at 0.80 and 0.8050, followed by the 100-day moving average at 0.8120.

Forecast range:
Resistance: 0.8000 – 0.8050 – 0.8120*
Support: 0.7860 – 0.7800 – 0.7750 – 0.7700

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