- May 7, 2026
- Posted by: EWGFX
- Category: news
USD/CHF edges lower on Wednesday, breaching a key support trendline at around 0.7800 as the pair extends its downtrend, falling over 0.50% at the time of writing. The pair trades at 0.7789, as traders target the March 10 swing low at 0.7748.
USD/CHF Price Forecast: Technical outlook
From a technical perspective, the downtrend is resuming after sellers cleared the 0.7800 figure. Worth noting that USD/CHF tested the April 17 cycle low of 0.7775, but the pair recovered some ground. However, a daily close below that level opens the door to testing lower areas, such as the March 10 daily low at 0.7748, ahead of 0.7700.
Momentum is bearishly biased, as indicated by the Relative Strength Index (RSI), and is accelerating towards oversold territory. This indicates that sellers are gathering momentum.
On the flip side, for a bullish continuation, buyers must reclaim 0.7800, followed by the confluence of the 20-, 100-, and 50-day Simple Moving Averages (SMAs) at around 0.7836/58. Once surpassed, the next area of interest will be the 0.7900 figure.