USD/CHF Price Forecast: Attempts to reclaim 0.8000 after defending the 100-day SMA
USD/CHF regains ground on Thursday as the US Dollar (USD) stabilises following the previous day’s broad weakness, which pushed the pair below the 0.8000 psychological mark and to its lowest level since June 17, weakening the near-term bullish structure.
USD/CHF attempts to reclaim the 0.8000 psychological barrier after defending the 100-day Simple Moving Average (SMA) on Thursday. The US Dollar (USD) stabilised following previous day's weakness, which pushed the pair below the 0.8000 mark and its lowest level since June 17, weakening the near-term bullish structure. Buyers re-emerged after a brief dip below the 100-day SMA at 0.7975, helping the pair regain ground, but momentum remains fragile with the Relative Strength Index (RSI) at 38.2 and the Moving Average Convergence Divergence (MACD) holding below zero.
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