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
Real Time News
  • USD strength present throughout the NY session, but the US Dollar Index continues to find stiff resistance at the 94 level $USD $DXY
  • Euro is down more than 0.2% against the US Dollar since the start of the week with EUR/USD trading just above support heading into the European Central Bank interest rate decision tomorrow. Get your $EURUSD market update from @MBForex here:
  • Nasdaq 100 is not sure whether it wants to close at a record high, but the NDX-SPX ratio has jumped sharply today on the tech index's 0.9% rally
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.33% Silver: 0.05% Oil - US Crude: -0.05% View the performance of all markets via
  • The recent AUD/JPY rally appears to be stalling below 86.000, with the pair relatively flat on the session $AUDJPY
  • #Euro Technical Forecast: $EURUSD Pressured into #ECB- Breakout Levels -
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.05%, while traders in USD/JPY are at opposite extremes with 73.98%. See the summary chart below and full details and charts on DailyFX:
  • A day full of meetings and I've always had one eye fixed on this $GOOG rally. Last nights afterhours reticence didn't do this stock (and MSFT) justice. Impressive
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.29% US 500: 0.22% France 40: 0.19% Germany 30: 0.13% Wall Street: -0.16% View the performance of all markets via
  • RT @DeItaone: *Natural Gas Jumps 4.3% to Session-High $6.134 Ahead of Contract Expiration
USD/CHF Price Forecast: A Selloff or a Further Consolidation?

USD/CHF Price Forecast: A Selloff or a Further Consolidation?

Mahmoud Alkudsi, Analyst

USD/CHF Technical Outlook

  • USD vs CHF price chart highlights a sideways move
  • Will USD/CHF resume bearish price action?

USD/CHF Price – Bears Ease Up

On June 23, USD/CHF rebounded from a near two-week low at 0.9420 and rallied. Nonetheless, the weekly candlestick closed in the red with a 0.4% loss. The Relative Strength Index (RSI) rose from 37 to 44 highlighting a weaker bearish momentum.

The growing coronavirus cases reported recently in some states in the US cast doubt over the reopening of the economy and slowed down the US dollar selloff.

USD/CHF Daily Price Chart ( Sep 20, 2018 – July 2, 2020) Zoomed Out

usdchf daily price chart 02-07-20 zoomed out

USD/CHF Daily Price Chart (MAY 25 – July 2, 2020) Zoomed IN

usdchf daily price chart 02-07-20 zoomed in

Last week, USD/CHF corrected its downward trend and moved in a sideways move. At the start of this week, the market rebounded around the low end of the current trading zone 0.9438 – 0.9548 reflecting the bear’s hesitation at this point.

A close below the low end of the zone signals that bears could press towards 0.9330 and any further close below that level may encourage them to send USDCHF even lower towards 0.9181.

On the flip side, another close above the low end of the zone could mean more of the same ie, the price could rally towards the high end of the zone and any further close above this level could extend this move towards 0.9640.

USD/CHF Daily Four-Hour Chart (June 7 – July 2, 2020)

USDCHF four hour price chart 02-07-20

Today, USD/CHF has broken below the uptrend move originated from the June 11 at 0.9376 and generated a bearish signal. Additionally, the price rebounded from the aforementioned line indicating that bears were in charge. With that said, any break above the downtrend line originated from the June 8 high at 0.9639 would generate a bullish signal.

Thus, a break below 0.9401 may send USDCHF towards 0.9330. In turn, any break above 0.9553 may trigger a rally towards 0.9629. That said, the weekly support and resistance levels marked on the chart should be kept in focus.

Written By: Mahmoud Alkudsi, Market Analyst

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.