USD/CHF Price Forecast: Pair pulls below 0.8100 but remains bullish
The USD/CHF tumbles by 0.70% on Tuesday, trading at 0.8093, as the latest US inflation report prompted market participants to pare hawkish bets that the Federal Reserve might cut the Fed funds rate this year.
USD/CHF Price Forecast: Technical outlook
Price action indicates the uptrend remains intact. The market structure of higher highs and higher lows remains intact despite the USD/CHF dip below the 0.8100 mark following the release of macroeconomic data.
Momentum favours further upside as the Relative Strength Index (RSI) is bullish above its 50-neutral level.
That said, if USD/CHF registers a daily close above 0.8100, a potential move towards the high of the day (HOD) at 0.8152 is on the cards. If its cleared, the August 1, 2025, daily high at 0.8171 is up next, before traders challenge the 0.8200 mark. Above lies the psychological 0.8250 and 0.8300.
The first support is the low of the day (LOD) at 0.8060. A breach of the latter will expose the July 10 swing low of 0.8030. On further weakness, the next support is the July 2 daily low of 0.8010.
USD/CHF Price Chart — Daily
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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