USD/CHF outlook: Swiss franc position weakened
USD/CHF outlook: Swiss franc position weakened
The USD/CHF currency pair is considered a safe investment for traders due to the economic stability and neutral political nature of Switzerland.
The forecast for the USD/CHF currency pair includes many aspects, such as technical chart analysis, fundamental analysis, and current economic events in Europe and Switzerland.
USD/CHF may be in a bullish trend for the dollar against the Swiss franc due to investors' growing confidence in the US economy and the Federal Reserve's decision not to rush into raising interest rates.
Currently, USD/CHF is consolidating in the 0.9000-0.9100 range.
At the time of writing, the USD/CHF exchange rate is 0.9087.
The daily chart of the USD/CHF shows that a major bearish wave is about to take place. Within its framework, the bullish correction has been completed, and a new wave is unfolding. It seems that the local correction is coming to an end. If this assumption is correct, the USD/CHF pair will continue to fall to 0.8325-0.8050.
In the long-term forecast, economic data from the US and Switzerland suggest that the USD/CHF will rise to the level of 0.9500. In this situation, the level of 0.9224 is critical. Its breach will allow the pair to continue its growth to levels of 0.9451-0.9838.
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