21:01 UTC
Downtrend, basing attempt · RSI 43 · price 0.78334
Lower highs from 0.8042, holding 0.7760 floor.
USDCHF has been in a stepped downtrend since late March's 0.8042 peak, carving lower highs through 0.7959 and 0.7917 while price sits below both EMA(20) and EMA(50). The 0.7760 swing low has held twice over the past month, producing a tentative double bottom, but the recovery has stalled below the 0.7888 swing high. RSI near 42 reflects neutral-to-soft momentum with no oversold signal.
Support: 0.7808, 0.7760
Resistance: 0.7888, 0.7959, 0.8042
What it said to watch
- Daily close below 0.7760 swing low confirms trend continuation
- Daily close above 0.7888 swing high would break the lower-high sequence
- Persistent Middle East risk premium a structural driver for CHF