USD/CHF edged 0.12% higher during the North American session, trading around 0.7966, but the pair remains capped below the 20- and 50-day SMA confluence at 0.8019/23. This keeps sellers in control as the market consolidates within the 0.7950–0.8000 range ahead of next week’s Federal Reserve policy meeting.
Technical outlook
The daily chart suggests USD/CHF is at risk of retesting its yearly lows. Price action remains firmly below the short-term SMAs, reinforcing the bearish bias. The Relative Strength Index (RSI) is bearish but flat, signaling a lack of momentum and pointing to near-term consolidation unless a breakout occurs.
On the upside, a move above 0.8000 would open the door to 0.8025, followed by the 100-day SMA at 0.8109. On the downside, a break under 0.7900 could trigger a test of the yearly low at 0.7872.
