CHF – The Swiss Franc is stuck in a narrow range

USD/CHF: The technical chart shows that the RSI and Stochastics have retreated from overbought territory, suggesting a short-term decline in the dollar. The supporting levels are expected to be 0.80 and 0.7910, with higher support expected at 0.7860 and 0.78. Furthermore, if the exchange rate can remain above 0.80 in the short term, there is still a chance for an extended uptrend. The downtrend line formed in recent months is at 0.8140; a break above this level would signal a reversal of the year-to-date decline. The 100-day moving average at 0.8220 and 0.8350 could then be seen.

Forecast range:
Resistance: 0.8140 - 0.8220 - 0.8350 - 0.8500
Support: 0.8000 - 0.7910 - 0.7860 - 0.7800

Focus:
Friday
Swiss Q2 Consumer Confidence Index (3:00 PM)

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