USD/CHF Price Forecast: US Dollar maintains its constructive bias while above 0.8270
- USD/CHF reversal from 0.8313 has been contained above previous highs, at 0.8270.
- The US Dollar retreated following the Fed's decision amid slightly dovish-tilted comments from Fed Chairman Kevin Warsh.
- The immediate bias remains positive, although bullish momentum has faded.
The US Dollar (USD) nurses minor gains against the Swiss Franc (CHF) on Thursday, with markets calm in the aftermath of the US Federal Reserve (Fed) meeting. The USD/CHF pair trades at 0.8285, with the immediate bullish trend still on play as Wednesday’s reversal from 0.8313 was contained above previous highs, in the 0.8270 area.
The Fed met expectations and left interest rates unchanged on Wednesday, while Chairman Kevin Warsh refused to confirm a December rate hike. Warsh also showed confidence that monetary policy is starting to work and suggested that the bank might be able to bring inflation down to the 2% target without compromising growth or having to "throw people out of work”, which was seen by the markets as tilted to the dovish side.
In Switzerland, the ZEW Survey, released on Wednesday, revealed that economic expectations for the next six months deteriorated in October to their lowest levels since March, increasing pressure on the Swissie.
Technical Analysis: US Dollar remains bid, although bulls have lost momentum
USD/CHF trades at 0.8285, holding a mild bullish bias, although momentum indicators are mixed. The 4-hour Relative Strength Index (14) stays in positive territory at 56, while the Moving Average Convergence Divergence (MACD) indicator has slipped marginally below zero, hinting at slowing upside momentum rather than a full-fledged reversal.
Bears remain contained above the October 19 high, in the 0.8270 area, which, so far, is closing the path towards the October 25 low near 0.8230 and the key support area between 0.8180 and 0.8190.
On the topside, immediate resistance is located at Wednesday's high near 0.8315, with a break exposing the 17-month highs near 0.8400.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.03% | -0.00% | 0.08% | -0.12% | 0.19% | 0.14% | -0.01% | |
| EUR | -0.03% | -0.04% | 0.05% | -0.13% | 0.16% | 0.10% | -0.05% | |
| GBP | 0.00% | 0.04% | 0.08% | -0.10% | 0.20% | 0.13% | -0.01% | |
| JPY | -0.08% | -0.05% | -0.08% | -0.21% | 0.11% | 0.02% | -0.10% | |
| CAD | 0.12% | 0.13% | 0.10% | 0.21% | 0.32% | 0.26% | 0.12% | |
| AUD | -0.19% | -0.16% | -0.20% | -0.11% | -0.32% | -0.06% | -0.21% | |
| NZD | -0.14% | -0.10% | -0.13% | -0.02% | -0.26% | 0.06% | -0.11% | |
| CHF | 0.01% | 0.05% | 0.00% | 0.10% | -0.12% | 0.21% | 0.11% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Author
Guillermo Alcala
FXStreet
Graduated in Communication Sciences at the Universidad del Pais Vasco and Universiteit van Amsterdam, Guillermo has been working as financial news editor and copywriter in diverse Forex-related firms, like FXStreet and Kantox.
