USD/CHF Price Forecast: Bullish RSI puts 0.8300 in focus

A return above the 50-day SMA at 0.8227 extends the USD/CHF rebound.
Near 0.8250, bullish momentum strengthens as RSI moves above neutral.
A daily close beyond 0.8250 brings 0.8300 into view, then 0.8382.

An elevated US inflation reading, alongside hawkish remarks from Federal Reserve (Fed) officials, supported the US Dollar as expectations grew for a Fed rate increase in December. Against that backdrop, USD/CHF advanced 0.74% during Tuesday’s North American session.

USD/CHF Price Forecast: Recovery Gains Ground

Having slipped to 0.8127, its lowest level in nearly two months, USD/CHF has regained some of its losses. At the time of writing, a break above the 50-day simple moving average (SMA) at 0.8227 has taken the pair as high as 0.8270. It has since eased back towards 0.8250, a nearly seven-day high.

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Buying momentum has strengthened, with the Relative Strength Index (RSI) moving above its neutral 50 threshold. Combined with a daily close above 0.8250, this could strengthen the case for a recovery towards 0.8300. Beyond that level, attention would turn to the year-to-date peak of 0.8382, recorded on 1 October.

The 50-day SMA provides initial support for USD/CHF. A break below it would bring the session low of 0.8174 into focus, with the 100-day SMA at 0.8164 next. Further down, the 0.8100 mark precedes the 200-day SMA at 0.8009.

USD/CHF Recovery on the Daily Price Chart

Swiss Franc Performs Best Against Australian Dollar Today

Today’s percentage moves in the Swiss Franc (CHF) against the major currencies listed are set out below. The Australian Dollar was the currency against which the Swiss Franc performed best.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.53%	0.73%	0.57%	0.48%	0.90%	0.54%	0.72%
EUR	-0.53%		0.19%	0.04%	-0.04%	0.37%	0.02%	0.22%
GBP	-0.73%	-0.19%		-0.17%	-0.23%	0.17%	-0.19%	0.00%
JPY	-0.57%	-0.04%	0.17%		-0.08%	0.32%	-0.02%	0.16%
CAD	-0.48%	0.04%	0.23%	0.08%		0.40%	0.05%	0.24%
AUD	-0.90%	-0.37%	-0.17%	-0.32%	-0.40%		-0.36%	-0.16%
NZD	-0.54%	-0.02%	0.19%	0.02%	-0.05%	0.36%		0.18%
CHF	-0.72%	-0.22%	-0.01%	-0.16%	-0.24%	0.16%	-0.18%

Percentage movements between the major currencies are displayed in the heat map. Select the base currency in the left-hand column and the quote currency in the top row. Selecting the Swiss Franc on the left and following that row across to the US Dollar, for instance, gives the percentage change for CHF (base)/USD (quote) in the corresponding cell.