USD/CHF Drops Below 0.8200, Bearish Momentum Targets 0.8110 Support

The USD/CHF currency pair continues its bearish trajectory for the second consecutive session, trading near 0.8170 in the early European hours on Thursday. The downside move comes amid increasing weakness in the US Dollar and technical rejection from the nine-day Exponential Moving Average (EMA) at 0.8207.

Technical Breakdown: Bearish Structure in Place

The pair is moving firmly within a descending channel, confirming a short-term bearish structure. The 14-day Relative Strength Index (RSI) stays below the critical 50 level, reinforcing downside momentum.

Resistance: 0.8207 (9-day EMA)
Immediate Support: 0.8110 (lower boundary of descending channel)
Deeper Support: 0.8039 (multi-year low, last seen in April 2024)

If price action breaches below 0.8110, further downside could materialize, potentially pushing the pair towards 0.8039, a level last approached in November 2011, emphasizing the strength of this selloff.

What to Watch Next

RSI divergence or bullish crossover signals
Price behavior around the 0.8110 support area
Any changes in US economic data or Swiss National Bank (SNB) rhetoric

USD/CHF Extends Losses Below 0.8200, Eyes 0.8110 Key Support Zone