USD/CHF Forecast: Next Week, Coming Days and Long Term

USD/CHF forecast 2026: what the banks expect

For the end of 2026, the banks selected here expect values between 0.81 and 0.848. The Japanese bank MUFG names 0.848 for the fourth quarter in its currency outlook of 1 October 2026. Based on research by Zürcher Kantonalbank, the Schaffhauser Kantonalbank sees 0.84 in three months (edition of 30 September 2026). According to Investing.com, UBS expects 0.81 in December (report of 25 September 2026).

Forecasts from 25 September to 1 October 2026; sources in the text, Schaffhauser KB with research by Zürcher Kantonalbank.

All three banks expect a lower rate by 2027. In the short term, however, UBS also sees a possible test of 0.84 to 0.85 in the coming months, according to Investing.com, as a risk, not as a forecast. One figure from February that is often quoted was not a bank forecast: the 0.78 for the end of 2026 was, according to UBS, the expectation of 300 Swiss companies it surveyed.

Bank forecasts are third-party assessments, not a trading recommendation. They depend on assumptions about interest rates and the economy and are revised regularly. Karsten’s charts, in contrast, show the current situation at the resistance cluster.

USD/CHF forecast 2027 and 2028: what the banks expect

For 2027, the banks selected here name values of about 0.78 to 0.79. MUFG expects 0.784 in the third quarter of 2027, the Schaffhauser Kantonalbank 0.79 twelve months from 29 September 2026 and UBS 0.79 in March 2027. The Schaffhauser Kantonalbank also expects the SNB to have room for a gradual normalisation of rates from spring 2027.

For 2028 we found no bank forecast in the sources we checked. The SNB expects inflation of 0.8 percent in 2028, assuming the policy rate stays at zero. No price target follows from that.

USD/CHF forecast 2030: what purchasing power parity says

Purchasing power parity is the exchange rate at which a comparable basket of goods and services costs the same in two countries.

In the sources checked for this article we found no reliable bank forecast for 2030. There are valuation yardsticks. In its World Economic Outlook database (retrieved 18 October 2026; the edition is not shown in the data), the International Monetary Fund puts purchasing power parity for Switzerland at 0.874 francs per international dollar in 2030, and at 0.927 for 2026. Measured against that, the franc is more expensive at the current rate of about 0.82 than purchasing power would suggest.

No price target follows from this. Exchange rates can drift away from purchasing power parity for decades; it is an equilibrium value, not a timetable.

What moves the USD/CHF rate

The rate gap is the distance between the policy rates of two currency areas. The wider it is, the more attractive the higher-yielding currency becomes for investors.

The dollar has a clear rate lead over the franc. The US Federal Reserve raised its target range to 3.75 to 4.00 percent on 16 September 2026. The Swiss National Bank left its policy rate at 0.00 percent on 24 September. The gap is therefore just under four percentage points, using the midpoint of the Fed range.

The franc’s role as a safe haven works against the dollar’s rate advantage. In times of crisis, capital flows into Switzerland because the country is seen as politically and economically stable. This demand strengthens the franc and pushes the USD/CHF rate down. The yen is also seen as a safe haven; how it is doing against the dollar is shown in the USD/JPY forecast.

The SNB expressly reserves the right to intervene in the currency market. On 24 September it said it remained willing to be active in the currency market as necessary. It expects inflation of 0.7 percent in 2026 and 0.8 percent in each of 2027 and 2028. A different kind of intervention was the end of the euro minimum rate on 15 January 2015: after that, the franc jumped sharply in value.

Against EUR/USD, USD/CHF usually moves in the opposite direction. When the euro rises against the dollar, USD/CHF often falls, because in both pairs the US dollar sets the direction. The levels for the euro are in the EUR/USD forecast.

For traders this means: an intervention by the central bank cannot be predicted. Anyone trading USD/CHF needs a stop loss and a position size that fits a predefined loss limit.

How this forecast is made

The charts are my own, with FXCM price data, from the 4-hour to the yearly chart. Each shows the highs and lows of earlier years that matter for its horizon. How such levels work is explained in our guide to support and resistance. The charts were made with TradingView, and this page follows our editorial policy.

Conclusion: USD/CHF turns lower at the resistance cluster

As an active trader since 1980, I see USD/CHF at strong resistance. The lows of 2015, 2023 and 2024 form a resistance cluster between 0.8300 and 0.8373 that has so far stopped the rise from the 2026 low. Since late September the price has been moving sideways there.

Last week’s reversal bar points to a weaker dollar in the short term. After the 2026 high at 0.8395, three strong down days followed, down to a new October low at 0.8218. The green uptrend line from the 2026 low at 0.7601 remains the relevant line below.

Please note

The scenarios are a personal assessment based on experience. They summarize possible price developments for each time frame and are not a certainty. This is market analysis, not investment advice. Keep your position sizes in line with your own risk management.

This forecast is translated from the German edition on kagels-trading.de.

How our forecasts are made and reviewed: How we work.