The immediate path forward depends on how the pair handles the break-and-retest zone between 0.8050 and 0.8080, where the former channel trendline now acts as resistance. A rejection at this level would confirm a bearish continuation toward 0.7900, with further downside exposing the May lows near 0.7800. Conversely, a sustained daily close back above 0.8080 would invalidate the breakdown as a bear trap, opening the door for a recovery back toward the 0.8140–0.8170 region.
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The USD/CHF daily chart shows a technical shift following a clean breakdown below its multi-month ascending channel. After topping out near 0.8240 in late July, strong selling pressure drove the price through dynamic trendline support and down toward the major horizontal support shelf at 0.7900. The daily RSI dropped sharply to near-oversold territory around 38, prompting a brief relief bounce back to 0.80015 as buyers defend the psychological 0.8000 round level.
The immediate path forward depends on how the pair handles the break-and-retest zone between 0.8050 and 0.8080, where the former channel trendline now acts as resistance. A rejection at this level would confirm a bearish continuation toward 0.7900, with further downside exposing the May lows near 0.7800. Conversely, a sustained daily close back above 0.8080 would invalidate the breakdown as a bear trap, opening the door for a recovery back toward the 0.8140–0.8170 region.
Fri, 21 Aug 2026 09:00:05 GMT
Source: Dukascopy Bank SA
The immediate path forward depends on how the pair handles the break-and-retest zone between 0.8050 and 0.8080, where the former channel trendline now acts as resistance. A rejection at this level would confirm a bearish continuation toward 0.7900, with further downside exposing the May lows near 0.7800. Conversely, a sustained daily close back above 0.8080 would invalidate the breakdown as a bear trap, opening the door for a recovery back toward the 0.8140–0.8170 region.
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