FundamentalOverview

The US Dollar this week hasbeen erasing some of the losses experienced last week after the benign US PPIand the Trump’s reciprocal tariffs announcement. There hasn’t been any notablecatalyst this week to support the greenback although some analysts pointed toless dovish comments from Fed’s Waller on Tuesday which would explain the risein Treasury yields afterwards.

On the CHF side, the Swiss CPI last week came in line withexpectations although the core measure increased. It didn’t change much for theSNB, but the market scaled back the expectations for potential negative rates.

USDCHFTechnical Analysis – Daily Timeframe

On the daily chart, we cansee that USDCHF bounced near the key 0.8960 support zone and pulled back into the broken trendline.The sellers will likely step in around these levels to position for a breakbelow the support, while the buyers will want to see the price rising backabove the trendline to start targeting the 0.92 handle next.

USDCHF TechnicalAnalysis – 4 hour Timeframe

On the 4 hour chart, we cansee that we have a minor upward trendline defining the pullback into the major trendline.The buyers will likely lean on it to position for new highs, while the sellerswill look for a break lower to increase the bearish bets into the 0.8960support zone.

USDCHF TechnicalAnalysis – 1 hour Timeframe

On the 1 hour chart, we cansee that the sellers stepped in around the most recent lower high to positionfor the pullback into the minor upward trendline. There’s not much else we canadd here as the buyers will look for a bounce, while the sellers will look fora break. The red lines define the average daily range for today.

UpcomingCatalysts

Today we get the latest US Jobless Claimsfigures, while tomorrow we conclude the week with the US Flash PMIs.