USD/CHF Price Forecast: Slips below 0.8250 as bullish harami hits at rebound potential
USD/CHF forms bullish harami near 0.8200 support, signaling possible upside correction.
Resistance levels to watch: 0.8250, 0.8300, and May highs at 0.8317 and 0.8332.
A daily close below 0.8200 may open the door to YTD lows below 0.8100 and 0.8038.
The USD/CHF extended its losses for the second straight day, and it is down over 0.46%, trading at 0.8221. Although the pair is in a downtrend, failure to clear the previous support seen at 0.8204 it is forming a ‘bullish harami’ two-candle chart pattern, suggesting that the major could test the May 2 high of 0.8317 key resistance level.
USD/CHF Price Forecast: Technical outlook
Given the backdrop, the USD/CHF's first resistance would be 0.8250 ahead of 0.8300. If surpassed, 0.8317 and the May 1 high at 0.8332 would follow.
On the other hand, sellers achieving a daily close below 0.8200 could push the USD/CHF to a new year-to-date (YTD) low below 0.8100 and also under the April 21 daily low of 0.8038.
USD/CHF Price Chart – Daily
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