Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
USD/CHF Faces Decisive Support Level- USD to Swiss Franc Price Forecast

USD/CHF Faces Decisive Support Level- USD to Swiss Franc Price Forecast

Mahmoud Alkudsi, Analyst
What's on this page

USD/CHF Technical Analysis

USD Forecast
USD Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q3 USD Forecast
Get My Guide

USD/CHF - Price Action

On Dec 13, USD/CHF declined 0.9805- to its lowest level in over three months. The price rallied after as sellers took profit. This week, sellers resumed bearish price action and pressed below 0.9800 handle for the first time three and half months.

Alongside this, the Relative Strength Index (RSI) fell from 40 to 32 emphasizing the strength of downtrend momentum.

Just getting started? See our Beginners’ Guide for FX traders

USD/CHF Daily Price Chart (Nov 1, 2017 – DEC 20, 2019) Zoomed Out

USDCHF price daily chart 20-12-19 Zoomed out

USD/CHF Daily Price Chart (June 25– DEC 20, 2019) Zoomed IN

USDCHF price daily chart 20-12-19 Zoomed in

From the daily chart, we notice on Dec 10 USD/CHF tumbled to a lower trading zone 0.9758- 0.9852. The price failed to rally to the higher trading zone in multiple occasions highlighting that sellers were in charge.

The price broke below the neckline of double top pattern located at 0.9840 generating another bearish signal. A close below the low end of the zone, could persuade more sellers to join the market and press USDCHF towards 0.9639. In that scenario, the weekly support levels underlined on the chart (zoomed in) should be watched closely, as some sellers might take profit at these points.

On the other hand, any failure in closing below the low end reflects seller’s hesitation. This could lead some of them to exit the market causing a price reversal towards the high end of the zone. Further close above the high end, opens the door for buyers to take control and lead USDCHF towards 0.9930. That said, the weekly resistance levels underscored on the chart would be worth monitoring.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Mahmoud Alkudsi
Improve your trading with IG Client Sentiment Data
Get My Guide

USD/CHF Daily Four-Hour Chart (Oct 10, 2017 – DEC 20, 2019)

usdchf four hour price chart 20-12-19

Looking at the four-hour chart, we notice on Nov 29 USD/CHF peaked at 1.0023 then started a downtrend move creating a series of lower highs with lower lows.

A break below 0.9754 could send USDCHF towards 0.9685. Yet, the weekly support levels underscored on the chart should be considered. On the other hand, a break above 0.9821 may lead the price to correct higher towards the high end of the trading zone discussed above on the daily chart. Although, the resistance area marked on the chart should be kept in focus.

Having trouble with your trading strategy? Here’s the #1 Mistake That Traders Make

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.