Fundamental Overview
The USD has been supported across the board in the first half of the month as the positive news on the trade front triggered a more hawkish repricing in interest rates expectations. Once the market got back in line with the Fed’s baseline of two rate cuts in 2025, the greenback lost that support and began to weaken again.
For further gains, the US Dollar will need either strong economic data to make the market to price out the rest of the rate cuts expected by year-end or weak data from its peers to make the divergence with the Fed stronger.
USDCHF Technical Analysis – Daily Timeframe
USDCHF Technical Analysis – 4 hour Timeframe
USDCHF Technical Analysis – 1 hour Timeframe
On the 1 hour chart, we can see that we have an interesting support zone around the 0.8240 level. If the price gets there, we can expect the buyers to pile in with a defined risk below the support to position for a rally into the major downward trendline. The sellers, on the other hand, will look for a break lower to increase the bearish bets into the 0.8185 level.
Upcoming Catalysts
Today, we have the FOMC Meeting Minutes. Tomorrow, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US PCE price index and the final UMich Consumer Sentiment report.
This article was written by Giuseppe Dellamotta at www.forexlive.com. Read More Details
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