The USDCHF is trading to fresh session lows heading into the weekend, reaching its lowest level since March 24. The downside momentum is gaining traction as the price continues to move further away from the 100-day moving average at 0.7886.

Earlier this week, the pair dipped below that moving average on Wednesday and again yesterday, but sellers struggled to sustain momentum near the 38.2% retracement at 0.7873. That hesitation is no longer evident. Today’s price action has pushed decisively below both the 100-day MA and the 38.2% level, with increased downside momentum.

That shift now redefines those levels—0.7873 to 0.7886—as a clear topside risk zone. As long as the price stays below that area, sellers remain in control and can continue to lean against it as a risk-defining ceiling.

Looking lower, the next downside targets come into focus:

• 0.7834–0.7840: Swing area support (former resistance in early March, turned support after the March 12 breakout)
• 0.78216: 50% midpoint of the 2026 trading range

Bottom line:

Sellers are making a stronger play as momentum builds below key technical levels. Staying below the 100-day MA keeps the bearish bias intact, with downside targets at 0.7835 and 0.78216.