USD/CHF traded quietly on Friday, holding below the 0.8000 level as market participants avoided major directional bets ahead of next week’s key economic releases. The pair is on track to close the week with modest gains of over 0.25%, last seen near 0.7956 and virtually unchanged on the day.
Technical outlook: USD/CHF consolidates with mild bearish bias
The pair has spent the week consolidating within a narrow range, with strong resistance emerging near the confluence of the 20-day and 50-day Simple Moving Averages (SMAs) at 0.7974–0.7984. A decisive break above this zone could pave the way toward the psychological 0.8000 threshold.
Momentum remains subdued, as the Relative Strength Index (RSI) continues to drift below its neutral 50 mark, indicating a slight bearish undertone in the near term.
On the downside, sellers will look to challenge the October 17 swing low at 0.7873, with a break below that level exposing the yearly trough at 0.7829. Conversely, if USD/CHF manages to clear 0.8000, initial resistance is seen at the 100-day SMA around 0.8022, followed by the October 8 high at 0.8076 and then the 0.8100 level.
