USD/CHF slipped on Thursday, down 0.46% to 0.8205, as safe-haven demand lifted the Swiss Franc and the Japanese Yen as the only currencies gaining against the Greenback on the day. The pair printed an intraday low of 0.8191, testing the 50-day Simple Moving Average at 0.8193 before rebounding back above 0.8200. The Relative Strength Index points to bearish momentum, though the broader price structure still leans bullish.
Technical Outlook and Key Levels
Technically, a move back through 0.8250 would refocus attention on 0.8300, then the 15 October high at 0.8354, ahead of the 14 October high at 0.8395. Beyond that, 0.8400 comes into view, followed by the 1 April 2025 high at 0.8847. On the downside, initial support sits at 0.8200 and then the 50-day SMA, with further levels at the 100-day SMA of 0.8134 and 0.8100.
Background Factors Influencing CHF
In the background, CHF pricing remains sensitive to SNB policy set at four meetings a year, the post-peg regime after 2011–2015 and a reported EUR–CHF correlation of more than 90%, while the 2015 depegging triggered a rise of more than 20% in the franc’s value.
