01-08-2026, 02:40 PM
USD/CHF and Buying Opportunities?
The USD/CHF currency pair has been experiencing a strong bearish trend over recent years. During this downward trajectory, sellers (bears) have successfully driven the price to a low of 0.78300 thus far.
Given the magnitude of recent declines on long-term timeframes, such as the monthly chart, the price is currently deeply oversold, trading near the lowest rates recorded in the history of this pair.
In the monthly timeframe, we observe the formation of two Spinning Top candlestick patterns, while a Hammer pattern has emerged on the weekly chart. Consequently, the price has currently paused its further decline. The trend remains completely oversold, with divergence in the RSI indicator.
Analyzing the price action structure within the range of the 0.70798 low to the 1.03530 high, a Bullish Gartley Harmonic Pattern has formed. This formation suggests a probability of an upward reversal from the 0.78300 support zone.
On shorter timeframes, such as the daily chart, the price has initiated a bullish cycle in recent days, successfully closing above the 21-day Moving Average. Should the upward momentum continue, traders' initial targets are set at the key level of 0.80000, followed by the resistance level of 0.80740.