Double Whammy: USDCHF Bearish as Dollar Sells Off & Fed Uncertainty Looms

USDCHF holds below 0.8000 level on board-base US dollar  selling. It hits an intraday low of 0.79780 and is currently trading around 0.79800. Intraday bias appears to be bearish as long as the resistance 0.8050 holds.  

Three to four candidates—including Fed Governor Kevin Warsh, National Economic leader Kevin Hassett, Fed Governor Christopher Waller, and Treasury Secretary Scott Bessent—are under consideration by President Donald Trump to possibly replace Federal Reserve Chair Jerome Powell whose term expires in May 2026. Having often criticized Powell for failing to cut interest rates, Trump has even proposed naming a successor well before Powell's term ends—a move that detractors warn could undermine the Fed's independence and perplex markets. Despite his dissatisfaction, Trump claims he has "no intention" of firing Powell before his term concludes—a position supported by a recent Supreme Court ruling validating the president's limited authority to remove the Fed chair without misbehavior.

Technical Analysis Points to Further downside

The pair is trading below  the   55-EMA, 200 EMA and 365 EMA on the 4-hour chart  indicates a bearish trend. The immediate resistance is at  0.8050 any break above  targets 0.8090/0.8140/0.8180/0.8250/0.8300.

Support Levels and Potential Declines

On the downside, near-term support is around 0.7970, any violation below will drag the pair to 0.7920/0.7800.

Indicators (4-Hour)

CCI (50) - Bearish

Directional movement Index -  Bearish

Trading Strategy Recommendation

It is good to sell on rallies around 0.8048-50 with a stop-loss at 0.8090 for a TP of 0.7800.