USDCHF is stabilizing following a sharp decline, with the 0.8040 area continuing to demonstrate clear buying support. Although the price remains below the Ichimoku cloud, the current structure suggests the market is forming a consolidation base rather than continuing the sell-off.

Fundamentally, the USD remains supported by expectations that the Fed will maintain high interest rates, whereas low inflation in Switzerland gives the SNB little reason to tighten policy. This creates a relative advantage for the USD against the CHF.

If the 0.8040 level holds and the price breaks back above the 0.8110–0.8120 zone, USDCHF could extend its recovery toward 0.8170.

Current outlook: Favor buying (long positions) once the price confirms support at 0.8040, with a near-term target of 0.8170.