USD/CHF Price Forecast: Breaks below key SMAs, eyes on 0.7800
USD/CHF falls as Iran declares Strait of Hormuz open
USD/CHF Price Forecast: Bearish Flag formation warrants more downside below 0.7790
USD/CHF stays near 0.7850 amid increased market caution
USD/CHF edges higher as USD rebounds, mixed US data and inflation risks in focus
USD/CHF slumps to near 0.7800 as US Dollar extends decline amid Iran optimism
USD/CHF stays near one-month low as US-Iran thaw, soft inflation weigh on Dollar
USD/CHF sees more downside below 0.7800 as US-Iran talks to resume soon
On the Daily chart, USD/CHF has faced a significant rejection at the 0.80000 psychological handle. This level has proven to be a formidable barrier, leading to a sharp reversal that has now brought the pair back down to a critical inflection point.
Given the clear daily downtrend, USDCHF currency pair can be expected to fall further to the next support level 0.7745 (low of the previous correction iv).
The USD/CHF bias has shifted to decidedly bearish after a significant rejection at the 0.80000 psychological barrier. The pair is now testing the critical 0.78285 support—the 'line in the sand' for bulls.
USD/CHF treads water around 0.7900 with markets awaiting news from Iran