- The USD/CHF could aim at the main support in the descending channel around 0.8110
- The bearish trend is strengthened as the 14 -day relative force (RSI) index remains below the level of 50.
- The nine -day EMA at 0.8207 acts as the main resistance.
The USD/CHF pair continues to lose ground for the second consecutive day, quoting around 0.8170 during the European hours of Thursday. However, the bearish trend prevails as the pair moves down into the descending channel pattern, indicated by the technical analysis of the daily chart.
The USD/CHF torque falls below the nine -day exponential mobile average (EMA), suggesting that the short -term impulse is weakening. In addition, the 14 -day relative force (RSI) index is maintained below the level of 50, indicating a prevalent bearish trend.
In the lower part, the lower limit of the descending channel around 0.8110 could act as the main support. A larger fall below the channel could reinforce the bearish trend and exert the downward pressure on the USD/CHF torque to navigate in the region around 0.8039, the lowest level since November 2011, which was last seen on April 21.
The USD/CHF torque could try the initial barrier in the nine -day EMA of 0.8207. A rupture above this level could improve the impulse of short -term prices and support the torque to explore the area around the upper limit of the descending channel at 0.8270, followed by the EMA of 50 days at 0.8340.
USD/CHF: Daily graphic
Franco Swiss price today
The lower table shows the rate of change of the Swiss Franco (CHF) compared to the main coins today. Franco Swiss was the strongest currency against the Australian dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.29% | 0.06% | -0.42% | -0.03% | 0.32% | 0.28% | -0.56% | |
| EUR | 0.29% | 0.35% | -0.12% | 0.26% | 0.58% | 0.58% | -0.24% | |
| GBP | -0.06% | -0.35% | -0.51% | -0.09% | 0.22% | 0.21% | -0.62% | |
| JPY | 0.42% | 0.12% | 0.51% | 0.38% | 0.71% | 0.65% | -0.14% | |
| CAD | 0.03% | -0.26% | 0.09% | -0.38% | 0.35% | 0.30% | -0.53% | |
| Aud | -0.32% | -0.58% | -0.22% | -0.71% | -0.35% | -0.01% | -0.84% | |
| NZD | -0.28% | -0.58% | -0.21% | -0.65% | -0.30% | 0.00% | -0.83% | |
| CHF | 0.56% | 0.24% | 0.62% | 0.14% | 0.53% | 0.84% | 0.83% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the Swiss Franco from the left column and move along the horizontal line to the US dollar, the percentage change shown in the picture will represent the ChF (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
