The USDCHF is pushing to fresh session lows in early North American trading and is now trading at its lowest level since March 11.
The latest leg lower has taken the pair beneath the 61.8% retracement of the 2026 trading range at 0.7771, while also breaking below a key swing area between 0.7771 and 0.7782
The low price has reached 0.7768 so far, keeping the sellers firmly in short-term control. With the break below that support zone, the 0.7782 level now becomes the key near-term risk-defining level for sellers. As long as the price remains below that ceiling, traders will continue to favor further downside momentum.
Recall that earlier this week the pair attempted to rebound, but buyers repeatedly ran into sellers leaning against the falling 100-hour moving average — first on Tuesday and again at the start of trading on Wednesday. The inability to break and stay above that moving average reinforced the bearish technical bias and gave sellers a low-risk opportunity to lean against the level with clearly defined risk. So what comes next?