USDCHF Technical Analysis – We are approaching a key resistance ...Middle East

Fundamental OverviewThe USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the risk sentiment amid a pickup in growth. This could be a headwind for the greenback. The CHF, on the other hand, weakened after the SNB cut interest rates by 25 bps to 1.25%. The market was pricing a 68% chance of a cut going into the decision, so it wasn’t really a surprise. The central bank also lowered its inflation forecasts though, so that added to the Swiss Franc weakness. The onl

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