USD/CHF regains ground on Thursday as the US Dollar (USD) stabilises following the previous day’s broad weakness, which pushed the pair below the 0.8000 psychological mark and to its lowest level since June 17, weakening the near-term bullish structure.
At the time of writing, USD/CHF trades around 0.7998 after bouncing from an intraday low of 0.7949
The pair lost 1.83% on Wednesday and slipped below the 50-day Simple Moving Average (SMA) at 0.8085 for the first time since June 2. However, buyers re-emerged after a brief dip below the 100-day SMA at 0.7975, helping the pair regain ground. USD/CHF is hovering just below the 0.8000 horizontal barrier.
Momentum remains fragile, with the Relative Strength Index (RSI) at 38.2 and the Moving Average Convergence Divergence (MACD) holding below zero, suggesting that recovery attempts could struggle against nearby resistance. On the topside, initial resistance emerges at the 0.8000 mark, followed by the support-turned-resistance zone near 0.8050 and the 50-day SMA at 0.8085. On the downside, the 100-day SMA at 0.7975 offers immediate support, ahead of the 200-day SMA at 0.7933.