USD/CHF Price Forecast: Maintains position near 0.8250 near nine-day EMA support

• USD/CHF may approach immediate resistance at the upper boundary of its consolidation range around 0.8350.
• The 14-day RSI has moved above the 30 mark, signaling a continued short-term corrective rebound.
• A break below key support at the nine-day EMA of 0.8251 could weaken short-term momentum.

The USD/CHF pair holds ground for the third successive session, trading around 0.8270 during the Asian hours on Thursday. The daily chart suggests a neutral market bias, with the pair consolidating within a recently established rectangular pattern.

Additionally, USD/CHF remains near its nine-day Exponential Moving Average (EMA), indicating neutral short-term momentum. The 14-day Relative Strength Index (RSI) has climbed above 30, suggesting an ongoing short-term corrective rebound. However, as the RSI stays below the 50 threshold, the overall bearish trend remains intact.

On the upside, the USD/CHF pair may test immediate resistance at the upper edge of the consolidation range near 0.8350. A clear breakout above this level could trigger short-term bullish momentum, opening the door for a potential move toward the 50-day EMA at 0.8545. Additional resistance lies at the monthly high of 0.8848, marked on April 2.

Key support is found at the nine-day EMA of 0.8251. A break below this level may undermine short-term momentum, potentially pushing the USD/CHF pair toward the rectangle's lower boundary at 0.8140. A further decline could reinforce bearish bias and pave the way for a retest of 0.8039 -- the lowest level since November 2011, last seen on April 21.

USD/CHF: Daily Chart