USD/CHF: Focus on Upside Potential After Breaking Above Key Level

USD/CHF: Focus on Upside Potential After Breaking Above Key Level

24.04.2026 New

The dollar rose against the euro yesterday. The EUR/USD pair fell from 1.1716 to 1.1669. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the price has fallen to just below the 200-period exponential moving average (EMA), and on the daily chart, it has fallen for three consecutive days. The downtrend from the +2σ line of the Bollinger Bands toward the centerline continued.

Among European currencies, the Swiss franc fell against the U.S. dollar. The USD/CHF pair rose from 0.7832 to 0.7873. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price broke above the 200-period exponential moving average (EMA), which had been acting as resistance, with a real body candle. On the daily chart, the price has risen for three consecutive days and has broken above the 20-period MA with a real body candle.On the weekly chart, the price has rebounded from a level below the 20-day moving average (MA) to just below the 20-day MA.

Today’s economic indicators include the UK GfK Consumer Confidence Survey at 8:01, Japan’s Consumer Price Index (CPI) at 8:30, Japan’s Business Service Price Index at 8:50, UK Retail Sales at 15:00,at 3:45 PM, the French Consumer Confidence Index; at 5:00 PM, the German IFO Business Climate Index and remarks by SNB Governor Schlegel; at 9:30 PM, Canadian Retail Sales; and at 11:00 PM, the University of Michigan Consumer Sentiment Index. We will be watching for further upside potential in the USD/CHF pair, which has been rising.

Past Market Reports

1. 24.04.2026New

   USD/CHF: Focus on Upside Potential After Breaking Above Key Level

2. 23.04.2026New

   The euro has broken below a key support level; tonight’s preliminary PMI figures may reveal the extent of the decline

3. 22.04.2026New

   The euro faces resistance at higher levels; the market may be waiting to see if there is room for a rebound

4. 21.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

5. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

6. 17.04.2026

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

7. 16.04.2026

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

8. 15.04.2026

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

9. 14.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

10. 13.04.2026

    Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures