USD/CHF Moves in a Limited Range
USD/CHF moved relatively stable in the 0.786–0.787 range in recent trading, reflecting the market's continued wait-and-see attitude amid global uncertainty. This movement indicates limited volatility with a short-term sideways trend.
Technically, USD/CHF faces strong resistance in the 0.7845–0.7855 area, which has so far limited the dollar's upside against the Swiss franc. Failure to break through this area has kept bullish momentum contained, with selling pressure remaining visible in the market.
Fundamentally, market sentiment remains influenced by geopolitical tensions, particularly related to the conflict in the Middle East. This situation has boosted demand for safe-haven assets like the Swiss franc, thus limiting the US dollar's strength.
In the short term, USD/CHF is expected to remain within a limited range. If it fails to break through resistance, the potential for a decline to the 0.77 area remains open. Conversely, a breakout above 0.79 could open the opportunity for further upside, although the probability remains limited at this time. (Zaf)
Source: Newsmaker.id