The USD/CHF is trading higher today, driven by a stronger USD, as the pair moves decisively above its 100-hour moving average (MA) at 0.90834. If the price remains above this level, buyers maintain firm control. A break below the 100-hour MA and the 200-hour MA at 0.90548 would shift the bias back to the downside.
Earlier this week, the pair experienced a sharp drop following disappointing tariff-related news, which briefly dampened USD sentiment. However, President-elect Trump denied the report, leading to a return of buyers. Yesterday, the pair found support at a higher swing level near 0.90217, reinforcing bullish momentum and enabling today’s continued move higher.
On the fundamental front, Swiss CPI inflation data released this week came in weak, with a monthly decline of -0.1% and a year-over-year increase of just 0.6%. Meanwhile, U.S. economic data was mixed, with strong initial jobless claims but a weaker-than-expected ADP employment report. Fed Governor Waller’s dovish remarks have added to market uncertainty, providing both buyers and sellers with opportunities to influence the pair’s direction.
As a result, the technicals will help to tell the story at least in the short term
