- The USD/CHF quotes within a narrow range of 0.8200–0.8335 while markets expect confirmation of a break.
- The weak Swiss CPI increases the expectations of feature cuts by the SNB, supporting a slight rebound of the USD/CHF.
- A rupture above 0.8250 points to 0.8300 and 0.8335; A fall below 0.8200 could test the minimum of 0.8100 and 0.8038.
The USD/CHF is consolidated on Wednesday, registering a daily closure with profits of more than 0.21%. The pair experienced a fall from around 0.8847 to 0.8038, the annual minimum in eleven days. However, it has been recovered after the Swiss consumer price index (CPI) continued to be weak, paving the way for another rate cut by the Swiss National Bank (SNB).
At the time of writing, the USD/CHF quotes above the 0.8230 mark after bouncing from the daily/weekly minimums of 0.8184.
Forecast of the USD/CHF price: technical perspective
The USD/CHF has been quoting laterally for the last nine days, within the range of 0.8200-0.8335, while market participants waited for the Federal Reserve decision. However, since the president of the Fed, Powell, maintained the status quo, the torque could not overcome the maximum or minimum of the range. Therefore, the USD/CHF is expected to remain within the range.
Purchase opportunities arise in the figure of 0.8200. A break of the mark of 0.8250 would expose the figure of 0.8300, followed by the peak of the range at 0.8335. On the contrary, if the USD/CHF falls below 0.8200, the operators could test the figure of 0.8100, followed by the annual minimum of 0.8184.
Graphic Diary of the USD/CHF
Franco Swiss Price this week
The lower table shows the percentage of change of the Swiss Franco (CHF) compared to the main currencies this week. Franco Swiss was the strongest currency against the Australian dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.18% | -0.22% | -0.65% | 0.26% | 0.36% | 0.09% | -0.32% | |
| EUR | -0.18% | -0.12% | -0.59% | 0.35% | 0.53% | 0.18% | -0.23% | |
| GBP | 0.22% | 0.12% | -0.69% | 0.47% | 0.58% | 0.30% | -0.10% | |
| JPY | 0.65% | 0.59% | 0.69% | 0.94% | 1.06% | 0.87% | 0.49% | |
| CAD | -0.26% | -0.35% | -0.47% | -0.94% | -0.18% | -0.17% | -0.57% | |
| Aud | -0.36% | -0.53% | -0.58% | -1.06% | 0.18% | -0.25% | -0.68% | |
| NZD | -0.09% | -0.18% | -0.30% | -0.87% | 0.17% | 0.25% | -0.42% | |
| CHF | 0.32% | 0.23% | 0.10% | -0.49% | 0.57% | 0.68% | 0.42% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the Swiss Franco from the left column and move along the horizontal line to the US dollar, the percentage change shown in the picture will represent the ChF (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
