Key Moments
- USD/CHF extended its pullback from levels above 0.8000 to an intraday low near 0.7870 before stabilizing around 0.7890.
- A reported two-week ceasefire in Iran coincided with broad US Dollar weakness as investors trimmed long USD exposure.
- The pair has broken its late-February bullish trendline, with key support seen around 0.7860-0.7835 and resistance near 0.7905 and 0.7965.
Risk Appetite Weighs on USD/CHF
USD/CHF accelerated lower on Wednesday as a shift toward risk-taking prompted investors to unwind US Dollar (USD) long positions against the Swiss Franc (CHF). After failing to hold gains just above 0.8000 earlier in the week, the pair dropped to session lows around 0.7870 before recovering modestly toward the 0.7890 region at the time of writing.
The selloff in the Greenback was broad-based following reports that the US and Iran had agreed to halt hostilities for two weeks and allow safe passage for Gas and Oil tankers transiting the Strait of Hormuz. The improvement in market sentiment encouraged a move out of the USD, reinforcing the pressure on USD/CHF.
Technical Picture: Bullish Structure Gives Way
From a technical standpoint, USD/CHF has fallen back below its rising trendline support, signaling that the bullish phase originating from the February 27 lows has likely concluded. This breakdown is seen as bolstering the bearish case for a more pronounced corrective move.
Momentum indicators are aligned with this weaker tone. The Relative Strength Index (RSI) is hovering close to 30 after retreating from above 60, indicating that downside momentum has been building. At the same time, the Moving Average Convergence Divergence (MACD) indicator remains below its signal line in negative territory, reinforcing expectations that rebounds toward the recent breakdown zone may attract sellers.
While the pair is attempting a mild recovery, the support band between the 50% Fibonacci retracement of the March advance at 0.7860 and the March 23 low at 0.7835 is expected to be a key area where selling interest could re-emerge. On the upside, former support at 0.7905, the April 1 low, is now likely to serve as initial resistance, followed by the previously broken trendline, currently located near 0.7965.
(The technical analysis of this story was written with the help of an AI tool.)
US Dollar Performance Against Major Currencies
The table below shows the percentage change of the US Dollar (USD) versus major currencies today. According to the data, the US Dollar was the strongest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.76% | -1.04% | -0.73% | -0.10% | -0.91% | -1.44% | -1.08% | |
| EUR | 0.76% | -0.30% | 0.02% | 0.66% | -0.17% | -0.74% | -0.34% | |
| GBP | 1.04% | 0.30% | 0.30% | 0.96% | 0.17% | -0.41% | -0.04% | |
| JPY | 0.73% | -0.02% | -0.30% | 0.64% | -0.15% | -0.72% | -0.34% | |
| CAD | 0.10% | -0.66% | -0.96% | -0.64% | -0.78% | -1.34% | -0.99% | |
| AUD | 0.91% | 0.17% | -0.17% | 0.15% | 0.78% | -0.58% | -0.20% | |
| NZD | 1.44% | 0.74% | 0.41% | 0.72% | 1.34% | 0.58% | 0.38% | |
| CHF | 1.08% | 0.34% | 0.04% | 0.34% | 0.99% | 0.20% | -0.38% |
The heat map indicates how major currencies have moved against one another. The base currency is taken from the left-hand column, and the quote currency is taken from the top row. For instance, selecting the US Dollar on the left and moving across to the Japanese Yen cell shows the percentage move for USD (base)/JPY (quote).
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