Forex News
- GBP/JPY holds near 215.00 as traders avoid directional bets.
- Flat RSI signals neither buyers nor sellers control momentum.
- Break above 215.43 exposes 216.00 and 216.50 next.
The GBP/JPY holds firm on Wednesday at around 215.00, as neither buyers nor sellers are reluctant to open fresh directional bets amid fears of renewed intervention in the FX markets by US and Japanese authorities to propel the Yen. At the time of writing, the cross-pair hovers below the 50-day Simple Moving Average (SMA), barely unchanged.
GBP/JPY Price Forecast: Technical outlook
GBP/JPY faces significant resistance levels that are capping its advance, resulting in sideways trading. The Relative Strength Index (RSI), remains flat at the neutral level of 50, suggesting a lack of strong conviction from either buyers or sellers to drive the pair beyond key levels.
On the upside, the initial key resistance is the 50-day SMA at 215.43, followed by 216.00. Breaking this will open the way to the 216.50 level and, subsequently, the 217.00 psychological level.
Downwards, GBP/JPY's first support level is at 215.00, followed by the 100-day SMA at 214.55. Beneath lies the 200-day SMA at 212.12, above the August 7 low of 211.47.
GBP/JPY Price Chart – Daily
Japanese Yen FAQs
The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
DBS Group Research’s Radhika Rao reports that Indonesia’s onshore markets welcomed President Prabowo’s nomination of Deputy Governor Destry Damayanti as the next Bank Indonesia Governor. She stresses that an experienced, independent technocrat at the helm should sustain confidence in the monetary framework. Rao notes the Rupiah stabilizing below 18000/USD, bond yields easing, and sees scope for BI to keep rates unchanged this month.
Market reaction to BI leadership change
"Indonesia’s onshore markets responded positively to progress on the appointment of the new Bank Indonesia Governor."
"President Prabowo nominated BI Deputy Governor Destry Damayanti for the position of the next Governor, showing that the government prefers a technocrat, market-friendly candidate and a former BI official at the helm of the institution."
"For investors, reassurance that the central bank remains under an experienced, and independent leader will be important in sustaining confidence in the monetary policy framework and reaffirm its institutional autonomy."
"Rupiah stabilized below 18000/USD at the start of this week, with bond yields off highs."
"A relatively firm 2Q growth report and stability in the rupiah makes the case for the BI to maintain its rates this month."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- AUD/USD slips as softer US CPI fails to sustain gains
- Fed hold bets rise, but energy risks threaten disinflation
- RBA inflation expectations could reshape September rate outlook.
The Aussie Dollar ended Wednesday’s session with losses against the Greenback as US inflation data matched estimates, in both headline and core. Consequently, traders pushed back against rate hikes, though the AUD/USD faded the initial move and traded at 0.7061, down 0.07%.
AUD/USD slips as traders digest US CPI, RBA guidance and inflation-expectations data
The US annual inflation rate in July eased from 3.5% to 3.4%, with the underlying figures also easing. The core print came at 2.5%, a tenth below June’s number, an indication that the disinflation process continued for two straight readings.
After the data, money markets adjusted quickly, increasing dovish bets for the September meeting and shifting from a 60% rate-hike expectation to a 60% hold, according to Prime Terminal. Nevertheless, Fed dovish members are not out of the woods. A prolonged US-Iran war could reignite a rally in energy prices, exerting upward pressure on inflation.
In Australia, the economic docket will feature the release of Consumer Inflation Expectations for August, with the previous print being 4.7%. A reading above could put pressure on the Reserve Bank of Australia to increase rates, which held rates unchanged at 4.40% at the August 11 meeting.
The RBA struck markets with a mixed tone in its statement, with inflation projections seen lower, near the RBA’s goal, while recognizing that “inflation remains elevated and risks are skewed to the upside.”
At the press conference, RBA’s Governor Michelle Bullock said that “the board discussed raising interest rates.”
Despite this, for the September 29 meeting, the RBA is expected to hold rates unchanged, with odds at 79%, while a 25-basis-point hike is at 21%, according to Prime Terminal.
AUD/USD Price Forecast: Technical outlook
In the daily chart, AUD/USD trades at 0.7061, holding a mildly bullish near-term bias as it remains above the latest simple moving average in the Moving Average Triple at 0.6992 and over short-term trend-line support near 0.6953. Price also sits comfortably above the older break level at 0.6403, while the Relative Strength Index (14) at about 59 leans positively without yet reaching overbought territory, suggesting constructive but not euphoric upside momentum.
On the downside, initial support is seen at the recent breakout area around 0.6992, followed by firmer protection at the short-term rising trend-line break near 0.6953 and then deeper structural support toward 0.6403. On the topside, bulls face progressive resistance from clustered rising trend-line breaks, with the first barrier emerging around 0.7274, ahead of 0.7294, while more distant upside targets align with higher trend-line projections near 0.8377 and 0.9068.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Australian Dollar FAQs
One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD.
The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive.
China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs.
Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD.
The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.
- EUR/USD reverses from two-day high despite softer US CPI.
- Fed hold odds jump as inflation extends disinflation trend.
- Germany HICP holds steady while energy costs pressure inflation.
The Euro reversed course after reaching a two-day high of 1.1563, following the release of a benign US inflation report for July, which triggered a repricing for a less “hawkish” Federal Reserve, throughout 2026. Despite this, EUR/USD retreated from earlier gains, trading at 1.1522, down 0.17% at the time of writing.
EUR/USD reverses course despite benign US CPI as traders await PPI and Eurozone data
Inflation in the US prompted investors to cut their positions, expecting a rate hike at the September meeting. The odds swung dramatically, with the odds of a hold at 60%, up from 40% before the release of the Consumer Price Index (CPI).
The US CPI for July was in line with expectations, indicating ongoing disinflation. The overall CPI declined slightly from 3.5% to 3.4% YoY, while the core CPI decreased from 2.6% to 2.5% over the twelve months ending in July.
Across the pond, the Eurozone docket showed that Germany’s Harmonised Index of Consumer Prices (HICP) in July held steady at 2.8%, unchanged as expected. Despite this, economists warned that energy prices continued to rise at an above-average rate, remaining a crucial driver for inflation.
On Thursday, the Eurozone’s schedule will feature the release of inflation data from Spain, alongside an update on Industrial Production in the European Union. Projections for the production suggest that economists see an improvement in June from a -1.2% contraction on an annual basis, up to -0.8%
In the US, the Producer Price Index (PPI), along with the Consumer Price Index (CPI), could guide the Federal Reserve’s interest rate path.
EUR/USD Price Forecast: Technical outlook
In the daily chart, EUR/USD trades at 1.1523, holding a mildly bullish bias as it grinds above the broken downtrend line at 1.1514 and the top of the descending parallel channel at 1.1510. The latest simple moving averages cluster around 1.1466 below price, suggesting underlying demand, while the Relative Strength Index (14) near 56 points to constructive but not overextended momentum after the recent recovery off the lower channel boundary at 1.1336.
On the downside, initial support emerges in the 1.1514–1.1510 area, where the reclaimed trend-line and channel top converge, followed by the moving average support zone around 1.1466 and then the channel floor at 1.1336 if sellers regain control. On the topside, the next notable resistance is the horizontal barrier at 1.1849, and only a sustained break above this level would significantly strengthen the bullish outlook for the pair.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro FAQs
The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
Commerzbank’s Charlie Lay and Dr. Henry Hao point out USD/CNY is stable around 6.75, with their model implying a slightly stronger PBoC fix. China’s July credit and money supply data are expected to show modest easing, and a weak print would reinforce subdued private borrowing and increase pressure on the PBoC to deliver more targeted monetary easing.
China credit data key for Yuan
"China's July credit and money supply figures are due this week, with markets watching closely for signs of whether domestic demand is stabilising after a string of disappointing readings. Consensus expects M2 growth to ease marginally to 7.9% yoy from 8.0% in June, while M1 is forecast to slip to 3.9% from 4.0%. Aggregate financing on a year-to-date basis is seen rising to CNY21.9tn vs CNY20.8tn in June, though new yuan loans outstanding are expected to tick down slightly to CNY10.6tn vs CNY10.7tn previously."
"A softer-than-expected credit print this week would reinforce the view that private sector borrowing appetite remains subdued, consistent with the pattern seen in June when aggregate financing missed forecasts."
"On the fiscal side, China has completed roughly 90% of its 2026 local government debt swap quota, with CNY1.8tn of hidden debt refinanced into official bonds. Separately, new special bond issuance by local governments reached CNY2.5tn, or about 58% of the full-year allowance of CNY4.4tn, leaving meaningful room for acceleration in H2."
"A weak July credit print would add pressure on the PBoC to ease further. The central bank has signalled it intends to make monetary policy more targeted and flexible, with the seven-day reverse repo rate remaining the primary policy anchor."
"In FX, USD/CNY was little changed at 6.75 and offshore USD/CNH rose 30 pips to 6.75 yesterday."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- USD/MXN nears 17.00 as softer US CPI supports the Peso.
- Fed hold expectations rise after inflation extends downward trend.
- Banxico steady-rate outlook keeps carry advantage supporting Mexican Peso.
The Mexican Peso (MXN) appreciates on Wednesday against the US Dollar (USD) to levels last seen in May 2024 following a decline in US inflation, as markets expected, softer-than-expected, which trims bets of a rate hike by the Federal Reserve (Fed) in its next meeting. The USD/MXN pair trades at 17.05 after hitting early lows of 17.01.
USD/MXN falls on cooler US inflation, traders trimming Fed hawkish bets
Data from the US showed that July CPI matched estimates, indicating that the disinflation process continues. The headline Consumer Price Index (CPI) dipped from 3.5% to 3.4% YoY, while core CPI eased from 2.6% to 2.5% in the twelve months to July.
The data was benign, following Oil’s 23% July jump. Although West Texas Intermediate (WTI) is up 9% so far this week, it remains below June’s levels.
However, Fed dovish members are not out of the woods yet. Recent news reports pointed out that Iran denied talks to extend the ceasefire with the US for another 60-days, contrary to Pakistani sources. At the same time, US President Donald Trump said that the US controls the Strait of Hormuz.
In the meantime, Boston Fed Susan Collins said that if inflation remains high, she would vote to raise rates, according to the Financial Times.
The US Dollar index (DXY), measuring the Dollar's performance against six currencies, is at 99.98, up a modest 0.17%.
According to the Citi Mexico expectations survey, all analysts expect Banxico’s key policy rate to remain at 6.50% through the end of the year. The median forecast also indicates that the USD/MXN exchange rate will close this year at 17.90.
USD/MXN Price Forecast: Technical outlook
In the daily chart, USD/MXN trades at 17.0557, extending its decline beneath the clustered simple moving averages (SMA) pack, with the 50/100/200-day SMA group now aligned near 17.3918 as overhead resistance. The pair’s location well below this long-term average cluster suggests a bearish near-term bias, while the Relative Strength Index (RSI) at 28.78 has slipped into oversold territory, hinting that downside momentum is stretched even as the broader downtrend remains intact.
On the topside, initial resistance is defined by the triple SMA cluster around 17.39, where any corrective bounce would likely meet supply and reinforce the broader downward structure. On the downside, with no nearby technical floors from the current dataset, traders may look to price action behavior and the oversold RSI reading to gauge the risk of a short-term consolidation or corrective rebound before the prevailing bearish trend resumes.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Mexican Peso FAQs
The Mexican Peso (MXN) is the most traded currency among its Latin American peers. Its value is broadly determined by the performance of the Mexican economy, the country’s central bank’s policy, the amount of foreign investment in the country and even the levels of remittances sent by Mexicans who live abroad, particularly in the United States. Geopolitical trends can also move MXN: for example, the process of nearshoring – or the decision by some firms to relocate manufacturing capacity and supply chains closer to their home countries – is also seen as a catalyst for the Mexican currency as the country is considered a key manufacturing hub in the American continent. Another catalyst for MXN is Oil prices as Mexico is a key exporter of the commodity.
The main objective of Mexico’s central bank, also known as Banxico, is to maintain inflation at low and stable levels (at or close to its target of 3%, the midpoint in a tolerance band of between 2% and 4%). To this end, the bank sets an appropriate level of interest rates. When inflation is too high, Banxico will attempt to tame it by raising interest rates, making it more expensive for households and businesses to borrow money, thus cooling demand and the overall economy. Higher interest rates are generally positive for the Mexican Peso (MXN) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken MXN.
Macroeconomic data releases are key to assess the state of the economy and can have an impact on the Mexican Peso (MXN) valuation. A strong Mexican economy, based on high economic growth, low unemployment and high confidence is good for MXN. Not only does it attract more foreign investment but it may encourage the Bank of Mexico (Banxico) to increase interest rates, particularly if this strength comes together with elevated inflation. However, if economic data is weak, MXN is likely to depreciate.
As an emerging-market currency, the Mexican Peso (MXN) tends to strive during risk-on periods, or when investors perceive that broader market risks are low and thus are eager to engage with investments that carry a higher risk. Conversely, MXN tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
- NZD/USD trades near 0.5860, extending its slide as the Kiwi struggles to find support.
- New Zealand Prime Minister Christopher Luxon survived a second leadership challenge within his National Party.
- Middle East tensions continue to limit appetite for risk-sensitive currencies.
NZD/USD is trading near 0.5860, down over 0.30% on Wednesday and falling for the third consecutive day.
New Zealand's own political backdrop is adding to the pressure as Prime Minister Christopher Luxon survived a second leadership challenge within his National Party, underscoring divisions less than three months before the country goes to the polls.
Middle East tensions remain elevated, with no active discussions reported on extending the ceasefire between Washington and Tehran, limiting appetite for risk-sensitive currencies like the Kiwi.
On the US side, the Consumer Price Index (CPI) eased to 3.4% year-on-year in July, matching forecasts. The in-line print gave the Dollar no fresh catalyst of its own, so the third straight day of losses in NZD/USD was driven more by New Zealand's own troubles than by broad US Dollar strength.
New Zealand's own data is also on the docket Thursday, with Reserve Bank of New Zealand (RBNZ) inflation expectations and the Business Purchasing Managers Index (PMI) due.
Short-term technical analysis:
On the 4-hour chart, NZD/USD trades at 0.5859, keeping a mildly bearish near-term tone as it slips below the 20-period Simple Moving Average (SMA) at 0.5878 while holding above the 100-period SMA at 0.5842. The pair is hovering just over the nearby horizontal support at 0.5856, with the Relative Strength Index (RSI) retreating toward the 40 area, which hints at waning upside momentum but stops short of oversold conditions.
On the topside, initial resistance is seen at 0.5861, followed by 0.5870 and the former congestion area around 0.5867, with a stronger cap emerging at the 20-period SMA near 0.5878; above that, the focus would shift to 0.5907, then 0.5930 and 0.5965 before the distant barrier at 5,954. On the downside, a break below the 0.5856 floor would expose the 100-period SMA support at 0.5842, and a decisive move under this area would reinforce the prevailing bearish bias on the four-hour chart.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
UOB’s Quek Ser Leang and Lee Sue Ann note that USD/SGD closed little changed around 1.2800, with the S$NEER trading 1.7% above its mid-point and implying a 1.2760–1.2822 range. Their short-term view keeps the pair confined between 1.2785 and 1.2815, while the 1–3 weeks outlook highlights downside risk toward 1.2740 if 1.2765 breaks.
Dollar-Singapore stays range bound
"24-HOUR VIEW: Following Monday’s price action, we stated yesterday that “there has been no clear increase in upward momentum,” and we held the view that USD “is likely to range-trade between 1.2785 and 1.2815.” Our view of range-trading was not wrong, though USD traded within a narrower range than expected (1.2797/1.2816) before closing little changed at 1.2800 (-0.05%). Momentum remains flat and we continue to expect USD to trade in a range between 1.2785 and 1.2815."
"1-3 WEEKS VIEW: Last Monday (03 Aug, spot at 1.2815), we highlighted that while the recent strong momentum “suggests further downside risk, USD must break and hold below the significant support at 1.2790 before further declines are likely.” After USD closed at 1.2785 on Friday, we highlighted yesterday (11 Aug, spot at 1.2805) that “while the price action continues to suggest downside risk, USD must break clearly below 1.2765 before a move to 1.2740 can be expected.” We will continue to hold the same view as long as 1.2840 (no change in ‘strong resistance’ level) is not breached."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
BNY’s Geoff Yu notes that a less hawkish Fed has weakened the Dollar but failed to spark a sustained bid in commodity FX such as Norwegian Krone (NOK), Australian Dollar (AUD) and Emerging Markets (EM) currencies Chilean Peso (CLP), South African Rand (ZAR) and Brazilian Real (BRL). High nominal rates in Australia and Norway are offset by stagflation and productivity issues, while South Africa’s policy stance reflects a clear global growth priority over carry.
Commodity currencies struggle for follow-through
"Even before last Friday’s payroll numbers, iFlow showed dollar hedges rising again. Mean reversion was already overdue, but the Fed decision and subsequent “credibility” narrative accelerated the process. We have always viewed extreme positioning as an amplifier of price action, and the dollar is adjusting accordingly."
"Gold aside, there’s still no sign of the broad commodity move needed to revive the “debasement” trade that dominated markets in January and February. In FX, we can isolate some of the cleanest commodity currencies: NOK, AUD and an EM basket of CLP, ZAR and BRL. In the full trading week after the Fed decision, there wasn’t a single session when the entire group was net bought; by a week later, aggregate flows were again moving toward net selling."
"The Reserve Bank of Australia and Norges Bank retain the highest nominal rates in G10, but idiosyncratic risks remain too high to generate a sufficient front-end real-rate gap vs. USD."
"Meanwhile, as the Iran conflict has broadly stabilized in market terms, commodity-linked economies are more willing to return to earlier easing paths and prevent real rates from widening again. South Africa is a good example: the Reserve Bank of South Africa surprised markets by holding rates in July and maintained a forward-looking bias, with expectations of weaker inflation opening the door to a policy pivot. The global growth priority is increasingly clear, creating a hard ceiling for carry performance unless the Fed starts signaling cuts."
"Don’t chase the weaker-dollar commodity trade yet. Keep commodity FX and EM duration exposure selective until flows confirm a broader growth recovery, not just easier Fed expectations."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- USD/CHF refreshes ten-day highs as uptrend remains intact.
- Bearish flag warns of retracement below 50-day SMA.
- Break above the flag targets 0.8200 and the yearly peak.
The USD/CHF pair edges higher by some 0.30% on Wednesday, refreshing ten-day highs of 0.8138, as the uptrend is poised to extend if it clears key resistance levels.
USD/CHF Price Forecast: Technical outlook
The market structure of successive higher highs and higher lows continues to be respected, indicating that the uptrend remains in place. Nevertheless, it seems that a bearish flag is forming, which could open the door for a deeper pullback before USD/CHF resumes its uptrend.
Momentum remains bullish as depicted by the Relative Strength Index (RSI). But if USD/CHF falls below the 50-day Simple Moving Average (SMA) at 0.8071, it opens the door to a retracement, initially to 0.8042, ahead of 0.8000.
Conversely, if the pair surpasses the top trendline of the bearish flag, this clears the way towards 0.8200 and the yearly peak at 0.8205. Once those two levels are removed, buyers could challenge the psychological levels of 0.8250 and 0.8300.
USD/CHF Price Chart – Daily
Swiss Franc Price Today
The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.17% | 0.13% | 0.13% | 0.16% | 0.02% | 0.39% | 0.36% | |
| EUR | -0.17% | -0.04% | -0.06% | -0.02% | -0.19% | 0.24% | 0.19% | |
| GBP | -0.13% | 0.04% | -0.02% | 0.00% | -0.15% | 0.26% | 0.23% | |
| JPY | -0.13% | 0.06% | 0.02% | 0.02% | -0.12% | 0.28% | 0.24% | |
| CAD | -0.16% | 0.02% | -0.01% | -0.02% | -0.15% | 0.27% | 0.21% | |
| AUD | -0.02% | 0.19% | 0.15% | 0.12% | 0.15% | 0.39% | 0.38% | |
| NZD | -0.39% | -0.24% | -0.26% | -0.28% | -0.27% | -0.39% | -0.05% | |
| CHF | -0.36% | -0.19% | -0.23% | -0.24% | -0.21% | -0.38% | 0.05% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).
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