The Swiss Franc extended its losses for the fourth straight day against the US Dollar in the aftermath of a strong US report in December. Consequently, investors trimmed the chances of additional easing by the Federal Reserve, a tailwind for the USD/CHF, which trades at 0.9177, up 0.25%. USD/CHF Price Forecast: Technical outlookFrom a daily standpoint, the USD/CHF uptrend is intact as the pair carved a successive series of higher highs and higher lows. Additionally, the 50-day Simple Moving Average (SMA) crossed above the 200-day (SMA), forming a ‘golden cross’ indicating further upside.If USD/CHF clears 0.9200, this could pave the way to test the April 2024 peak of 0.9224. On further strength, 0.9250 is next, followed by the 0.9300 figure.Conversely, if sellers drag the exchange rate below 0.9200, the first support would be the January 2 swing high of 0.9136, ahead of 0.9100. A breach of the latter will expose the January 6 daily low of 0.9007. USD/CHF Price Chart – Daily(Click on image to enlarge)
