Home USD/CHF Forecast: Further Decline Possible But Weekly Pivot at 0.9179
Daily Look, USD/CHF Forecast

USD/CHF Forecast: Further Decline Possible But Weekly Pivot at 0.9179

Our USDCHF forecast sees the pair moving sideways in the short term after reaching static support. It has increased a little today, trying to retest the broken dynamic support. The pair could resume its fall if the US Dollar Index slips lower after its temporary rebound.

The US inflation data will be released tomorrow and could shake the markets. The CPI is expected to increase by 0.5% in June versus 0.6% in May, while the Core CPI could increase by 0.4% compared to 0.7% in the previous reporting period.

The forex trading community will also be watching the Switzerland PPI will be released tomorrow as well and is expected to increase by 0.4%. The pair will be driven by fundamentals tomorrow. USD/CHF should drop if the DXY drops, and conversely it could increase if the index increases.  

If you want to explore using Forex Robots for trading USDCHF, check out our guide.

USDCHf forecast – technical analysis: breaking above weekly pivot to signal upside

usdchf forecast

Our USDCHF forecast notes that the pair has found support on the 38.2% retracement level and now it has retested the ascending pitchfork’s lower median line (lml). Technically, it has registered only a false breakout through the lower median line (lml).

It remains to be seen what will really happen as the pair seems undecided right now. Coming back within the ascending pitchfork’s body and jumping above the weekly pivot point (0.9179) could really signal a potential upwards movement.  

On the other hand, staying outside of the pitchfork’s body followed by a new lower low could really bring a deeper drop. USD/CHF could move sideways between the 61.8% and 38.2% levels.  

Consolidating above the 38.2% retracement level could really signal that the downside is over and that USD/CHF could develop a new swing higher towards the 61.8% retracement level.  

Looking to trade forex now? Invest at eToro!

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Olimpiu Tuns

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.