USD/CHF Price Forecast: Slight Drop Toward 0.7950 Despite Dollar Recovery
The USD/CHF pair moved slightly lower on Monday, trading close to 0.7950, even though the US dollar showed some signs of recovery. This means the Swiss franc is still strong, and traders are waiting for more clarity on the US economy and interest rate outlook.
In the US, recent weak job data and worries about a possible government shutdown are limiting the dollar’s strength. On the other hand, inflation in Switzerland remains low, which suggests that the Swiss National Bank (SNB) may keep interest rates unchanged for now.
From a technical point of view, the USD/CHF pair is struggling to stay above the 0.7970 resistance level. The 0.7950 zone is acting as immediate support. If the price breaks below this level, it could fall toward 0.7900. However, if buyers step in, the pair could rebound and move back toward the 0.7970–0.8000 range.
Impact:
USD/CHF might stay around 0.7950 for now. If weakness continues, the pair could fall toward 0.7900, but a small recovery toward 0.8000 is also possible.