USD/CHF tests 0.78285 after 0.8000 rejection; 0.7900 bounce
USD/CHF dropped after failing at 0.8000 and is testing support at 0.78285. Intraday RSI is oversold and the pair may see a short corrective bounce to 0.7900.
The US dollar fell against the Swiss franc on April 13 after a rejection at the 0.8000 level, dropping nearly 100 pips in intraday trade to test horizontal support at 0.78285, according to top-of-book quotes from OANDA Global Markets Ltd.
Price action during the session produced a rapid decline with little retracement. The hourly relative strength index read about 26.8, indicating extreme short-term exhaustion, while the four-hour RSI was near 31.
On the daily chart, the pair has moved below both the 100- and 200-day moving averages. The 200-day moving average sits just above the current price at roughly 0.78279. The area around 0.78285–0.78344 aligns with recent structural pivots on daily timeframes.
The four-hour chart shows the 50-, 100- and 200-period moving averages stacked above the market after the drop below the confluence near 0.79400. Price formed a series of lower highs and lower lows on the H4 timeframe, and a 50/100/200 moving-average cross is close to completion.
Immediate resistance on intraday charts is the 50-hour moving average around 0.7893, followed by the round 0.7900 level. If the current support breaks on a daily close, the ascending trendline from earlier in 2026 lies near the 0.77200–0.77500 area.
Market analyst Zain Vawda cautioned that a daily close below 0.78285 could open a path to year-to-date lows. Vawda said bulls would need a clear rejection at the current support and a daily close back above the moving-average cluster near 0.79400 to see buying return.
Price data cited are top-of-book quotes from OANDA Global Markets Ltd for information and education purposes.
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