USD/CHF aims to continue four-day winning streak amid resilient US Dollar

USD/CHF consolidates around 0.9050 amid uncertainty over the Fed’s interest rate peak.
The SNB kept interest rates unchanged at 1.75% for the first time since March 2022.
Going forward, investors will focus on US S&P Global PMIs for September.

Sagar Dua FXStreet

The USD/CHF pair traded in a narrow range near 0.9050 in the late European session. The Swiss Franc asset has remained in the grip of bulls broadly as the Swiss National Bank (SNB) announced a steady interest rate decision on Thursday, keeping interest rates at 1.7% while investors anticipated an interest rate increase by 25 basis points (bps) to 2%.

SNB Chairman Thomas J. Jordan and other policymakers decided to deliver a steady monetary policy for the first time since March 2022 when the central bank initiated its rate-tightening cycle to cool down inflationary pressures.

About the interest rate outlook, the SNB left doors open for further policy tightening. SNB Jordan cited that the current inflation situation has bought us time to assess whether measures taken to date are sufficient to keep inflation comfortably below 2%.

Meanwhile, S&P500 futures generated some decent gains in the London session, portraying nominal improvement in appeal for risk-perceived assets. The US Dollar Index (DXY) demonstrates a sideways trend as uncertainty about the interest rate peak elevated after the Federal Reserve’s (Fed) hawkish outlook.

The upside in the USD Index seems restricted for now as investors see no signs of a hike by the Fed in its November monetary policy. Going forward, investors will focus on preliminary PMIs for September from the S&P Global, which will be published at 13:45 GMT.

According to a preliminary report, The Manufacturing PMI is seen improving marginally to 48.0 from the August reading of 47.9. The Services PMI, which tracks a sector that accounts for two-thirds of the US economy, is anticipated to rise to 50.6 from 50.5 in August.

USD/CHF

Overview
Today last price	0.906
Today Daily Change	0.0015
Today Daily Change %	0.17
Today daily open	0.9045

Trends
Daily SMA20	0.8906
Daily SMA50	0.8797
Daily SMA100	0.8884
Daily SMA200	0.9036

Levels
Previous Daily High	0.9078
Previous Daily Low	0.8983
Previous Weekly High	0.8978
Previous Weekly Low	0.8897
Previous Monthly High	0.8876
Previous Monthly Low	0.869
Daily Fibonacci 38.2%	0.9042
Daily Fibonacci 61.8%	0.9019
Daily Pivot Point S1	0.8992
Daily Pivot Point S2	0.894
Daily Pivot Point S3	0.8897
Daily Pivot Point R1	0.9088
Daily Pivot Point R2	0.9131
Daily Pivot Point R3	0.9184

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

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