USD/CHF Price Forecast: Pair consolidates around the 50-day SMA
USD/CHF trades with a downside bias on Monday as the US Dollar (USD) stays on the defensive, largely due to broad Japanese Yen (JPY) strength. At the time of writing, the pair trades around 0.8091 after retreating from an intraday high of 0.8110.
On Monday, the USD/CHF pair trades near 0.8091, reflecting a downside bias as the US Dollar remains defensive. This is largely attributed to the strength of the Japanese Yen, which has fallen to a six-and-a-half month low near 154.40. The US Dollar Index hovers close to a two-week low of 98.90. Despite escalating tensions in the Middle East, the Greenback remains weak due to concerns over higher Oil prices.
The pair consolidates around the 50-day Simple Moving Average (SMA), with initial resistance seen at 0.8150 and further gains possible if the pair breaks above 0.8200. A daily close below the 0.8000 level would indicate a deeper bearish move.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
