Key Moments
- USD/CHF is hovering near 0.7830 after being pushed back from the 0.7900 area on Thursday.
- Reports of a 60-day US-Iran truce extension have encouraged risk-taking and pressured the safe-haven US Dollar.
- The pair is trading within a descending channel, with bears targeting support just above 0.7800.
Market Overview
The US Dollar (USD) is moving sideways against the Swiss Franc (CHF) on Friday, with USD/CHF attempting to stay above 0.7830 after being rejected around 0.7900 on Thursday. Renewed optimism following an extension of the US-Iran truce has prompted a modest shift toward risk assets, dampening demand for the safe-haven US Dollar across major currency pairs.
According to Axios, the United States and Iran agreed on Thursday to a memorandum of understanding that would prolong the ceasefire for 60 days. The arrangement still requires the signature of US President Donald Trump before it can take effect.
Expectations of a more stable situation surrounding Iran have largely counterbalanced the support the USD received from Thursday’s robust US Personal Consumption Expenditures (PCE) Price Index data, which kept alive prospects of an additional Federal Reserve (Fed) rate increase. In Switzerland, the KOF Leading Indicator signaled a slight pickup in economic activity in April, but this has not produced any meaningful reaction in the Swiss Franc.
Technical Picture: Bearish Channel Dominates USD/CHF
USD/CHF is trading at 0.7839, remaining confined within a descending channel as technical signals point to increasing downside pressure. On the 4-hour chart, the Relative Strength Index (RSI) sits near 43, indicating a mildly bearish bias without reaching oversold territory. At the same time, the Moving Average Convergence Divergence (MACD) histogram is showing broader red bars, reinforcing the negative momentum.
On the downside, sellers are concentrating on the support region just above 0.7800, which corresponds to the lows recorded on May 13, 14, and 25. This zone is expected to provide initial defense against further declines before prices approach a key confluence that includes the May 8 low near 0.7760 and the current lower boundary of the channel at 0.7755.
To the upside, trendline resistance coincides with Thursday’s peak at 0.7900. If buyers manage to push through this level, attention would likely turn to the April 12 high around 0.7930, followed by the early April highs located above the 0.8000 handle.
(The technical analysis of this story was written with the help of an AI tool.)
US Dollar Performance Against Major Currencies
The table below summarizes Friday’s percentage moves of the US Dollar against a basket of major currencies. Over the period shown, the USD posted its strongest relative performance versus the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | — | 0.12% | 0.16% | 0.02% | 0.16% | 0.09% | -0.43% | 0.01% |
| EUR | -0.12% | — | 0.04% | -0.09% | 0.08% | -0.03% | -0.52% | -0.10% |
| GBP | -0.16% | -0.04% | — | -0.13% | 0.00% | -0.07% | -0.56% | -0.14% |
| JPY | -0.02% | 0.09% | 0.13% | — | 0.17% | 0.07% | -0.45% | -0.00% |
| CAD | -0.16% | -0.08% | -0.01% | -0.17% | — | -0.09% | -0.58% | -0.15% |
| AUD | -0.09% | 0.03% | 0.07% | -0.07% | 0.09% | — | -0.49% | -0.06% |
| NZD | 0.43% | 0.52% | 0.56% | 0.45% | 0.58% | 0.49% | — | 0.43% |
| CHF | -0.01% | 0.10% | 0.14% | 0.00% | 0.15% | 0.06% | -0.43% | — |
The heat map above reflects percentage changes between the major currencies. The base currency is taken from the left-hand column, while the quote currency is selected from the top row. For instance, choosing the US Dollar as the base currency and moving across to the Japanese Yen cell shows the percentage move for USD (base)/JPY (quote).
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