USD/CHF Price Analysis: Dips Below 0.80 Following Weak Employment Data

• USD/CHF drops under 50-day SMA at 0.8020, settling below 0.8000 with downward momentum.
• Sellers target 0.7950 and July 23 bottom at 0.7911, potentially eyeing the year's lowest point at 0.7872.
• For bullish reversal, price must recapture 0.8000 and 50-day SMA before challenging 0.8047 and 100-day SMA at 0.8122.

The USD/CHF pair extended its decline on Friday, slipping beneath the 50-day Simple Moving Average (SMA) at 0.8020. The publication of a disappointing US Employment Report strengthened expectations for a Federal Reserve rate reduction in September. As of this writing, the pair is trading at 0.7980, showing a 0.94% decrease.

USD/CHF Price Analysis: Technical Perspective

Market action suggests that bearish forces have regained control, successfully closing below the psychological 0.8000 mark on both daily and weekly charts. This development has rekindled the possibility of testing the year's lowest point of 0.7872, recorded on July 1.

The Relative Strength Index (RSI) indicates that sellers are in the driver's seat.

Given these conditions, if the USD/CHF breaches 0.7950, it could expose the July 23 low of 0.7911. A move below this level could pave the way for a test of 0.7900, followed by the year's bottom.

Conversely, if buyers manage to push the price back above 0.8000, they would need to overcome the 50-day SMA before confronting the 20-day SMA at 0.8047. Significant resistance lies ahead at the 100-day SMA, positioned at 0.8122.

Swiss Franc Performance This Week

The following table illustrates the percentage shifts of the Swiss Franc (CHF) against major currencies this week. The Swiss Franc exhibited its strongest performance against the Canadian Dollar.

| Base/Quote | USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |------------|--------|--------|--------|--------|--------|--------|--------|--------| | USD | -0.19% | -0.10% | 0.28% | 0.68% | -0.16% | -0.06% | -0.20% | | | EUR | 0.19% | 0.09% | 0.40% | 0.89% | 0.03% | 0.15% | 0.00% | | | GBP | 0.10% | -0.09% | 0.20% | 0.77% | -0.06% | 0.04% | -0.04% | | | JPY | -0.28% | -0.40% | -0.20% | 0.47% | -0.44% | -0.31% | -0.43% | | | CAD | -0.68% | -0.89% | -0.77% | -0.47% | -0.79% | -0.73% | -0.81% | | | AUD | 0.16% | -0.03% | 0.06% | 0.44% | 0.79% | 0.10% | 0.02% | | | NZD | 0.06% | -0.15% | -0.04% | 0.31% | 0.73% | -0.10% | -0.07% | | | CHF | 0.20% | -0.01% | 0.04% | 0.43% | 0.81% | -0.02% | 0.07% | |

This table presents percentage changes of major currencies against each other. The base currency is selected from the left column, while the quote currency is chosen from the top row. For instance, selecting the Swiss Franc from the left column and moving horizontally to the US Dollar, the percentage change shown in the box represents CHF (base)/USD (quote).

Disclaimer: Provided for informational purposes only. Historical performance does not guarantee future results.