The USD/CHF pair trades back and forth in a narrow range near the round-level resistance of 0.
USD/CHF delivers a lackluster performance ahead of Fed policy. Higher US bond yields and gradually easing price pressures warrant a steady policy decision from the Fed. USD/CHF aims to stabilize above the horizontal resistance plotted from 0.9090. 9100 in the late European session. The Swiss Franc asset struggles for a direction as investors await the monetary policy decision by the Federal Reserve and crucial US economic data.
Upward-sloping 20-period Exponential Moving Average indicates that the near-term outlook is bullish. The Relative Strength Index oscillates in the bullish range of 60.00-80.00, indicating strength in favor of US Dollar bulls. A fresh upside would appear if the asset breaks above the round-number resistance of 0.9100, which will drive the asset toward May 31 high around 0.9147, followed by October 6 high at 0.9176. On the contrary, a downside move below October 25 low at 0.
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