USD/CHF Price Forecast: Trendline Break Spells Trouble

The USD/CHF pair has broken below a support trendline connecting its June and mid-July lows, turning short-term bearish. This is indicated by the Relative Strength Index (RSI), which has turned bearish as well.

The next key support level for the USD/CHF is at the 50-day Simple Moving Average (SMA) of 0.8042. If this level is cleared, it would mark a significant drop in value, with the 100-day SMA at 0.7957 and the 200-day SMA at 0.7929 as potential next stops.

To maintain its bullish momentum, the USD/CHF needs to reclaim the 0.8100 level and break through 0.8150. Once above 0.8150, it faces resistance at 0.8200 and the yearly high of 0.8207.