Forex
USD/CHF Plunges Nearly 2% as Technical Momentum Takes Control
The US Dollar versus Swiss Franc exchange rate (USD/CHF) plummeted by nearly 2% in a session marked by intense selling pressure, as the lack of fresh catalysts allowed technical momentum to take control.
The pair's decline was limited by its position above the MA-200 threshold, but persistent resistance from short- and medium-term moving averages continued to challenge further downside.
Despite this, momentum signals were mixed, with a strong intraday buy indication despite weak overall trend strength. The near-term support level is at CHF 0.7986, while resistance remains at CHF 0.8031.