USD/CHF PRICE FORECAST
USD/CHF PRICE FORECAST
The USD/CHF currency pair is currently trading near 0.8225, bolstered by renewed U.S. dollar demand amid optimism surrounding a potential U.S.-China trade deal.
Despite this uptick, the pair remains below the critical 0.8250 resistance level, suggesting a continued bearish outlook.
The 0.8250 level serves as a significant resistance for the USD/CHF pair.
A sustained move above this level is necessary to shift the current bearish bias.
The 14-day Relative Strength Index (RSI) remains below 50, indicating a bearish trend. Additionally, the pair is trading below both the nine- and 14-day Exponential Moving Averages (EMAs), further reinforcing the downward momentum.
Immediate support is observed at the psychological level of 0.8900.
A break below this level could lead the pair towards the two-month low at 0.8736, recorded on December 6.
While the long-term outlook remains bearish, the pair may experience short-term corrections.
A move above the nine-day EMA at 0.9009 could signal a temporary reversal, but the overall trend would remain down unless the 0.8250 resistance is decisively breached.
Investor sentiment is influenced by developments in U.S.-China trade negotiations and expectations regarding U.S. Federal Reserve policy.
Positive news on these fronts could provide temporary support for the USD/CHF pair.
