The Swiss Franc against the USD (USD/CHF) is holding steady at low levels around the mid-0.9000s on Monday morning in Europe. The Swiss Franc (CHF) currency pair is struggling to overcome the US Dollar weakness amid the US and Swiss holidays. Today's forex news on USD/CHF is quoted directly based on technical analysis from a trusted source, FxStreet.com. However, the US Dollar Index (DXY) has eased from a 10-week high as US policymakers announced a preliminary agreement on steps to avoid a potentially 'catastrophic' default. It is worth noting that several Republicans and Democrats voted against the deal, suggesting possible obstacles in Congress even as the June 5 default deadline approaches. This weakened the US Dollar and led to a decline in USD/CHF. In addition to concerns about a limited US debt deal, hawkish concerns about the Federal Reserve's (Fed) next steps, supported by upbeat US data, also lent support to the bullish bias around the Swiss Franc currency pair. Over the past week, data such as the US Purchasing Managers' Index (PMI), the second estimate of the Gross Domestic Product (GDP) for the first quarter (Q1) 2023, Durable Goods Orders, and the Core Personal Consumption Expenditures (PCE) Price Index for the month, also known as the Fed-monitored Price Index to gauge inflation, showed upbeat details in their latest readings. Looking ahead, risk factors that could entertain USD/CHF traders include the release of the Swiss Q1 GDP data and the US Nonfarm Payrolls (NFP), due on Tuesday and Friday. However, the main focus will be on the US Congress voting on the debt ceiling deal. In terms of technical analysis, to confirm further downside, USD/CHF sellers need to see validation from the rising support line for the past three weeks, with expectations reaching levels around 0.9030.

 

 Also Read : Kurs Swiss Franc Hari Ini Rebound, Diperdagangkan Dekat 0,8950

 

Warning!
 
This analysis is based on fundamental and technical views from trusted sources, not advice or invitation. Always remember that this content is intended to enrich the reader's information. Always use independent research first regarding other forex information to be used as a reference in your trading.

 

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