Key Highlights
- USD/CHF gained strength for a move above 0.8150.
- A rising channel is forming with support at 0.8170 on the 4-hour chart.
- EUR/USD is now at risk of a move below 1.1350.
- Gold prices declined and traded below the $4,065 support.
USD/CHF Technical Analysis
The US Dollar remained well-bid above 0.8080 against the Swiss Franc. USD/CHF started a fresh increase above 0.8120 and 0.8150.
Looking at the 4-hour chart, the pair settled above 0.8150, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). There was a clear move above the 1.236 Fib extension level of the downward move from the 0.8150 swing high to the 0.8032 low.
There is also a rising channel forming with support at 0.8170. On the upside, the pair could face resistance near 0.8200. The next major resistance might be 0.8220 or the 1.618 Fib extension level.
A close above 0.8220 could start another steady increase. In the stated case, the bulls could aim for a move to 0.8265. Any more gains might open the doors for a test of 0.8300.
If there is a downside correction, the pair could find bids near the channel support. The next major support could be near 0.8150. The main support might be 0.8100 and the 100 simple moving average (red, 4-hour).
A downside break and close below 0.8100 might send the pair toward 0.8050. Any more losses could open the doors for a test of 0.8000.
Looking at Gold, the price is again moving lower, and the bears could aim for a move below $3,950 in the near term.
Upcoming Key Economic Events:
- US Gross Domestic Product for Q2 2026 (Preliminary) – Forecast 2.1% versus previous 2.1%.
- US Personal Income for June 2026 (MoM) – Forecast +0.3%, versus +0.7% previous.
- US Initial Jobless Claims – Forecast 200K, versus 187K previous.
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