- USD / CHF hovers around the 0.9100-0.9130 range as the Fed’s Powell makes statements.
- USD / CHF is finding strong support at 0.9100, as the pair has jumped from that level three times.
- The Fed’s Powell acknowledged that inflation is well above the 2% target.
The USD/CHF It falls during the American session, down 0.30%, it is trading around 0.9117 at the time of writing. On Wednesday, the Federal Reserve decided to keep interest rates in the range of 0-0.25%, but more importantly, it announced that the process of gradual reduction of bonds is underway and will begin in mid-November. Furthermore, the monetary policy statement highlights that the Fed would be flexible with the pace of reductions in asset purchases, leaving the door open for a faster or slower QE reduction program.
Market reaction
The pair USD/CHF It fell to 0.9100 but rebounded from lows, reaching 0.9140. However, at press time, Federal Reserve Chairman Jerome Powell is holding his post-Fed press conference.
Technical levels
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