- USD/CHF is experiencing a slight rebound during the trading session on Friday, approaching 0.9050.
- The pair remains stable after falling into the mid-range near the main moving averages.
- Upcoming events: SNB President Thomas Jordan’s appearance on Tuesday and US CPI inflation.
He USD/CHF is on the high side of the week after Federal Reserve (Fed) Chairman Jerome Powell propped up the US Dollar (USD) with hawkish comments, sending broader market sentiment into a tailspin.
The US Dollar has weakened against the Swiss Franc (CHF) in October and November, and is still down 2.25% from the high reached in October, near 0.9245.
Next week, early on Tuesday, Swiss National Bank (SNB) President Thomas Jordan will deliver the keynote address at the Third High-Level Conference on Global Risk, Uncertainty and Volatility in Zurich.
Later in the day, the US Consumer Price Index (CPI) will be released, with investors focusing on the headline numbers after the Fed became more hawkish this week.
USD/CHF Technical Outlook
The USD/CHF pair has revolved around the 200-day SMA since September, charting a restrictive range of 0.9100 to 0.8900, but the pair’s long-term bullish momentum from the July low near 0.8550 sees how the 50-day SMA confirms a bullish crossover of the longer moving average.
This week saw a decline to 0.8950 on Monday, before the USD recovered mid-week, experiencing bullish momentum on Thursday and holding steady at the high end on Friday.
USD/CHF Daily Chart
USD/CHF technical levels
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.
