USD/CHF Price Forecast: RSI nears overbought territory as bulls remain in control
USD/CHF climbs to its highest level since May 2025 on Thursday as the Swiss Franc (CHF) weakens across the board following the Swiss National Bank’s (SNB) decision to leave its policy rate unchanged at 0%.
The Swiss Franc (CHF) witnessed a surge to its highest point since May 2025 on Thursday, as the Swiss National Bank (SNB) maintained its policy rate at 0%, contrasting with other central banks that have increased borrowing costs. The US Dollar (USD) gained strength, contributing to the pair's upward momentum. As of the latest update, USD/CHF was trading at 0.8275, marking a 0.27% increase for the day.
According to analysts at Brown Brothers Harriman, the SNB's decision to refrain from aggressive rate hikes contrasts with market expectations of 50 to 75 basis points in the next twelve months. The central bank emphasized that its monetary policy is appropriate to maintain inflation within its target of less than 2% per annum. The widening yield gap between the US and Switzerland is expected to support the upward trend in USD/CHF and EUR/CHF.
On the daily chart, USD/CHF has broken above key moving averages, indicating a bullish near-term bias. Momentum indicators suggest that the pair may be nearing overbought territory, while support levels are identified at 0.8200, 0.8122, and 0.8045, with resistance at 0.8350.
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