USD/CHF Price Forecast: Is 0.8300 next as RSI shifts into bullish territory?

Recovery in USD/CHF gathers pace as the pair moves back above its 50-day SMA at 0.8227.
Bullish momentum strengthens near 0.8250 as RSI moves above neutral.
A daily close beyond 0.8250 opens the way to 0.8300 and then 0.8382.

US Dollar strength lifted USD/CHF by 0.74% in Tuesday’s North American session. Hawkish remarks from Federal Reserve (Fed) officials and a high US inflation reading supported the currency, as expectations grew for a Fed rate hike in December.

USD/CHF Price Forecast: Can the Technical Recovery Continue?

TMGM Analysis: Financial Market News, Economic Calendar & Market Insights

USD/CHF has regained ground from 0.8127, its lowest level in nearly two months. At the time of writing, the pair had moved above the 50-day Simple Moving Average (SMA) at 0.8227 and touched 0.8270 before easing back towards 0.8250, a near seven-day high.

Buying momentum has improved, with the Relative Strength Index (RSI) breaking above the neutral 50 mark. Combined with a daily close above 0.8250, this could strengthen the case for a rebound towards 0.8300. A move beyond that level would bring the year-to-date high of 0.8382, recorded on 1 October, into focus.

For USD/CHF, initial downside support lies at the 50-day SMA. A break below it would put the day’s low of 0.8174 in focus, with the 100-day SMA at 0.8164 next. Further down, 0.8100 precedes the 200-day SMA at 0.8009.

USD/CHF Daily Price Chart – What Are the Key Levels?

How Is the Swiss Franc Performing Today?

The Swiss Franc’s strongest performance today was against the Australian Dollar. The table below sets out the percentage changes in the Swiss Franc (CHF) against the major currencies listed.

	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 major currencies are displayed in the heat map. Read the base currency from the left-hand column and the quote currency from the top row. For instance, selecting the Swiss Franc on the left and following its row across to the US Dollar gives the percentage change for CHF (base)/USD (quote) in the intersecting cell.