USD/CHF Price Forecast: Trades Above 0.8200 Near Nine-Day EMA Resistance

USD/CHF Price Forecast: Trades Above 0.8200 Near Nine-Day EMA Resistance

The USD/CHF pair is currently trading near the 0.8200 level during Friday’s Asian session, extending gains for the second consecutive session. However, bearish pressure remains as the pair moves within a descending channel pattern.

Technical Indicators Signal Bearish Sentiment

• The pair remains below the nine-day Exponential Moving Average (EMA) of 0.8219, indicating lighter short-term momentum.
• The 14-day Relative Strength Index (RSI) remains below 50, suggesting that bearish sentiment is still prevailing in the market.

Support and Resistance Levels to Watch

• Immediate resistance is capped near the nine-day EMA at 0.8219.
• On the downside, the first support lies at the lower border of the descending channel at 0.8140.
• A decisive break below this channel could confirm the bearish bias and push the USD/CHF pair towards the key support level at 0.8039, the November 2011 low, last seen on April 21.

Market Outlook

Traders should monitor the EMA and RSI indicators closely, as a sustained break above 0.8219 could signal a shift in momentum, while a drop below 0.8140 could open the way for further declines.

For more currency market updates, visit:

• Forex Trading Strategies for USD/CHF
• Understanding RSI in Forex Markets
• Technical Analysis Basics on Tredu