USD/CHF Rejection at 0.8100 Keeps Dollar on Back Foot
The US Dollar reversed lower against the Swiss Franc on Friday after failing to hold above the 0.8100 level, maintaining a bearish technical outlook. Soft US inflation data continues to weigh on the greenback.
The USD/CHF pair turned lower during Friday's European session after buyers failed to sustain a breakout above the 0.8100 resistance level. This rejection reinforces the existing bearish bias for the pair.
The US Dollar remains under pressure following the release of softer-than-expected US inflation figures. The data has reduced expectations for aggressive Federal Reserve tightening, further weakening the dollar's appeal.
From a technical perspective, the inability to hold above 0.8100 suggests that sellers remain in control. A break below the next support level could open the door for further declines toward the 0.8000 psychological mark.
Source: FXStreet Forex News