USD/CHF consolidated on Wednesday, recording a daily close with a gain of over 0.21%. The currency pair declined from around 0.8847 to 0.8038, an eleven-day yearly low. However, the currency pair has recovered after the Swiss Consumer Price Index (CPI) data continued to weaken, paving the way for another interest rate cut by the Swiss National Bank (SNB).
At the time of writing, USD/CHF was trading above 0.8230 after bouncing off a daily/weekly low of 0.8184.
USD/CHF Price Forecast: Technical outlook
USD/CHF has been trading sideways for the past nine days, in a range of 0.8200-0.8335, as market participants await the Federal Reserve's decision. However, with Fed Chair Powell maintaining the status quo, the major has been unable to break through the highs or lows within the range. Therefore, USD/CHF is expected to remain within the range.
A buying opportunity arises at 0.8200. A break of 0.8250 would expose 0.8300, followed by the range top at 0.8335. Conversely, if USD/CHF falls below 0.8200, traders could test 0.8100, followed by the yearly low at 0.8184.(Newsmaker23)
Source: FXstreet
The Swiss Franc (CHF) strengthens modestly against the US Dollar (USD) on Wednesday, with USD/CHF trimming intraday gains as the Greenback softens after softer-than-expected US Producer Price Index (P...
The US dollar traded lower against the Swiss franc for the second consecutive day on Monday (September 8). A weak payrolls report released on Friday continued to weigh on the US dollar, as investors i...
The US dollar edged higher against the slightly weaker Swiss franc, as an unexpected contraction in Swiss consumer prices in August fueled speculation that the SNB will cut interest rates to negative ...
The USD/CHF advances for the third straight day, up by 0.57% on Tuesday trading at 0.8050 as risk aversion boosted the Greenback. Economic data revealed in the United States (US) was mixed, as busines...
The USD/CHF pair trades with caution near 0.8000 during the Asian trading session on Monday. The Swiss France pair struggles to gain ground as investors turn extremely cautious ahead of an array of Un...
EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair...
U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has...
Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S....
The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...
The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday...
Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the...
The S&P 500 notched a second straight record-high close on Wednesday, as Oracle surged and cooler-than-expected inflation data supported...