FX.co ★ Kemie | USD/CHF

USDCHF Price Forecast: Today's discussion focuses on the current trend of the USD/CHF currency pair. The pair saw only slight movements during today's trading session, resulting in a subdued market. Similar to yesterday, a contradictory situation is emerging. On the one hand, a significant rebound was observed on Friday, after which the pair closed above the moving average (MA) and closed today. However, there is clear resistance, particularly in overcoming last week's extreme price action. This scenario creates a dilemma regarding which direction to choose. The trend still appears to be tilting downward. Given this, bearish signals are becoming more prevalent, making short positions more attractive. It would be prudent to open existing short positions near 0.78229. However, if the price breaks out above 0.80539, it could rise until maximum liquidity is completely depleted.

On the hourly chart, bears remain dominant, while bulls are attempting to reverse the market. The price remains near the 1/3 angle line and below the 25% resistance level at 0.80330. This indicates a continuation of the downtrend and weakness in the bulls. Based on the EMA (21/5) and MACD indicators, the sell signal remains valid. Therefore, we expect a bearish turn after some consolidation. USD/CHF is likely to fall to 0.78659 but could reverse course from there. If this happens, the price could fall to the accumulation zone around 0.78659, test this level, and potentially rise to the accumulation level at 0.80539. If this scenario is confirmed and USD/CHF fails to break above 0.80539, a sharp decline below the formed lows is likely.