Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan


EUR/CHF Consolidation Above 0.9476, USD/CHF at 0.8930

EUR/CHF Consolidation Above 0.9476, USD/CHF at 0.8930

Quick Look:

EUR/CHF Consolidation: Neutral bias above 0.9476; bearish if below. Watch resistance at 0.9683.
Key Levels: Important levels are 0.9252 (recent lows) and 0.9510 (61.8% retracement).
USD/CHF Struggles: Around 0.8950; influenced by US yields and PMI data, SNB rate cuts.
Economic Indicators: US PMI data shows growth; SNB cut rates to 1.25%, with possible intervention.

The current trend for the EUR/CHF currency pair shows a period of consolidation above the 0.9476 mark, with a neutral intraday bias. However, a bearish outlook persists if the resistance level at 0.9683 remains unbroken. Should the rate drop below 0.9476, further downside movement is anticipated.

Key levels to watch include 0.9252, which represents a potential retest of recent lows, and 0.9510, the 61.8% retracement level of the upward move from 0.9252 to 0.9928.

EUR/CHF Rebound Ends at 0.9228, Resistance 1.0095

The recent rebound appears to have concluded around 0.9228 in the broader context, reinforcing a bearish medium-term outlook. A significant resistance level is identified at 1.0095, with a resumption of the long-term downtrend expected below 0.9252, continuing the decline from 1.2004 in 2018.

USD/CHF at 0.8930 Amid Declining US Yields

The USD/CHF pair is currently struggling around the 0.8950 mark, largely influenced by declining US yields. Recent economic indicators, specifically the US PMI data, have tempered expectations for an immediate Federal Reserve rate cut, thereby providing some support for the US dollar.

The Swiss National Bank (SNB) is anticipated to implement another rate cut in September. The USD/CHF pair has retraced its gains in recent trading sessions, trading around 0.8930 in the early European session on Monday. The US Dollar Index stands at 105.70.

US 2-Year Yield at 4.73%, Fed Rate Cut Odds 65.9%

US Treasury yields have seen modest movements, with the 2-year yield at 4.73% and the 10-year yield at 4.25%. Speculation on a Fed rate cut shows that the odds for a September cut, according to the CME FedWatch tool, are 65.9%, down from 70.2% a week earlier.

US PMI at 54.6, SNB Cuts Rate to 1.25%

Recent US economic data shows the Composite PMI for June at 54.6, slightly up from 54.5 in May, marking the highest level since April 2022. The Manufacturing PMI rose to 51.7 in June from 51.3 in May, exceeding the forecast of 51.0. Similarly, the Services PMI increased to 55.1 in June from 54.8 in May, surpassing the consensus estimate of 53.7.

The SNB recently reduced its rate for the second time this year, lowering it from 1.50% to 1.25%. This decision, announced on Thursday, reflects the SNB’s assessment of the Swiss franc’s significant appreciation. SNB Chairman Thomas Jordan has indicated that the central bank is prepared to intervene if necessary.

The post EUR/CHF Consolidation Above 0.9476, USD/CHF at 0.8930 appeared first on FinanceBrokerage.

Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Editor's Pick

    Overview The world of business technology has evolved. Driven by the shift towards distributed work and cloud application delivery, enterprise infrastructure is undergoing a...

    Latest News

    Donald Trump’s defense attorneys Wednesday asked the federal judge handling the government’s classified documents case to allow the former president and his legal team...


    Bitcoin Rebounds to $69,000 Quick Look Bitcoin rebounds to $69,000, influenced by optimistic FR statements and anticipation of the halving event. FR officials’ comments...


    0xDistro ICO (DISTRO) is Live. What does it offer? In the world of decentralized finance, 0xDistro emerges as a promising project. It presented itself...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024