USD/CHF Price Forecast: Bulls break 0.8150 as CPI fuels Fed bets
The USDCHF climbs over 0.40% on Friday after US consumer inflation data, coupled with Thursday's PPI, pushed investors to price in a Fed interest rate hike at next week's meeting. The pair trades at 0.8165 after rebounding from daily lows of 0.8124.
The USD/CHF pair climbed over 0.40% on Friday after US consumer inflation data and Thursday's PPI report fueled speculation of a Federal Reserve interest rate hike at the upcoming meeting. The currency pair reached 0.8165 after bouncing back from daily lows of 0.8124. On the daily chart, USD/CHF has broken above the key resistance level at 0.8156, previously reached on September 2, opening the door for further upward movement.
Momentum, as indicated by the Relative Strength Index (RSI), is currently positive, suggesting an upward trend. Should USD/CHF surpass 0.8200, it could pave the way to challenge the June 19, 2025, high of 0.8215. Following that, the June 4 cycle high at 0.8250 and the psychological 0.8300 mark would be the next targets. Conversely, for a bearish shift, USD/CHF would need to break above the 50-day Simple Moving Average (SMA) at 0.8096 before falling back to the 100-day SMA at 0.8009.
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