The USDCHF is extending its declines for 2025, with the price now breaking to fresh 2025 lows below the key 0.8032 low from April. The move lower marks a significant technical development as it takes the price to the lowest level since 2011.

The USD is lower today as the market reacts to the news that the Pres. Trump will announce a successor to Fed's Powell over the next few months and the independence of the Fed would be compromised.

Going back in time on the weekly chart above, the bearish trend was set in motion after the January 2025 high stalled near multiple key technical zones:

• The 2024 and October 2023 highs

• The 50% retracement of the decline from the 2022 high

Since then, sellers have remained in control, pushing the pair below multiple support levels. In April the price fell below the floor between 0.8333 to 0.8373. However, after falling to the April 2025 low at 0.80325, the pair bounced - moving back above the old floor in May (above 0.8333 to 0.8373).

However, that bounce higher was short-lived, and the move lower was restarted in the very next week.

Since, then the price action has been decidedly more bearish with the break to new 2025 lows today at 0.80325. That level is now a close short-term risk level for sellers. Staying below it, and the door remains wide open for more downside probing. The current price is trading at 0.7993.