The United States Dollar to Swiss Franc exchange rate is now trading close to its yearly lows of 0.7980. The 20-day Simple Moving Average is located at 0.7951, and the 50-day SMA is located at 0.8008. Both of these SMAs provide support on the downside. There has been very little movement in the pair’s position, which is currently located at about 0.7980.
There is a lack of unanimity among market participants, as evidenced by the USD/CHF pair’s sideways movement, which is limited between the 20-day and 50-day simple moving averages. The Relative Strength Index exhibits a minor bullish trend; nevertheless, the flat slope indicates a range-bound behavior and signals that there is limited near-term momentum. The yearly low of 0.7829 might be reached if the price fails to go below 0.7950; resistance levels have been set at 0.8008 and 0.8045, which would limit any movement in the upward direction.
In light of the fact that neither buyers nor sellers have been able to successfully overcome key resistance and support thresholds, the technical analysis suggests that the pair is moving laterally through the market. In spite of the fact that the slope is currently flat, the Relative Strength Index indicates that bullish momentum is present. In order for buyers to establish a bullish continuation, it is necessary for them to surpass the 50-day simple moving average.
When everything is finished, the next level of resistance will be the 100-day simple moving average, which is 1.8045. Should the latter is violated, the value will be revealed to be 0.8100, with the peak occurring on August 1 at 0.8171. On the other hand, a drop below 0.7951 makes it possible to reassess the yearly lows of 0.7829, which were reached on September 17th. Down below the level of 0.7800, it is projected that further drops would occur.