US Dollar Forecast: USD/CHF Falls Toward Monthly Low amid Soft US CPI
USD/CHF pulls back ahead of the 50-Day SMA (0.8282) as the US Consumer Price Index (CPI) prints at 2.4% in May versus forecasts for a 2.5% reading.
Share this:
US Dollar Outlook: USD/CHF
USD/CHF pulls back ahead of the 50-Day SMA (0.8282) as the US Consumer Price Index (CPI) prints at 2.4% in May versus forecasts for a 2.5% reading, and the exchange rate may continue to track the negative slope in the moving average if it fails to hold within the opening range for June.
US Dollar Forecast: USD/CHF Falls Toward Monthly Low amid Soft US CPI
USD/CHF falls toward the monthly low (0.8157) as the softer-than-expected CPI report fuels speculation for lower US interest rates, and the US Dollar may continue to face headwinds ahead of the Federal Reserve interest rate decision on June 18 as higher tariffs appear to be having a limited impact on inflation.
Join David Song for the Weekly Fundamental Market Outlook webinar.
David provides a market overview and takes questions in real-time. Register Here
With that said, the rebound from the year low (0.8040) may continue to unravel as USD/CHF holds below the 50-Day SMA (0.8282), but the range bound price action may persist should the exchange rate defend the advance from the monthly low (0.8157).
USD/CHF Price Chart – Daily
Chart Prepared by David Song, Senior Strategist; USD/CHF Price on TradingView
- USD/CHF pulls back ahead of the 50-Day SMA (0.8282) to hold within the opening range for June, but failure to defend the monthly low (0.8157) may push the exchange rate toward 0.8080 (23.6% Fibonacci retracement).
- A breach below the yearly low (0.8040) opens up 0.7810 (161.8% Fibonacci extension), but USD/CHF may track the April range should it continue to hold above the monthly low (0.8157).
- Need a breach above the monthly opening range to bring 0.8360 (100% Fibonacci extension) on the radar, with the next area of interest coming in around the May high (0.8476).
Additional Market Outlooks
US Dollar Forecast: EUR/USD Holds Above Monthly Low Ahead of US CPI
Canadian Dollar Forecast: USD/CAD Coils Within June Opening Range
AUD/USD Climbs Toward Monthly High amid US-China Trade Talk
GBP/USD Vulnerable to Rise in UK Unemployment Rate
--- Written by David Song, Senior Strategist
Follow on Twitter at @DavidJSong
Related tags:
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
Silver Analysis: XAG/USD Falls Back to Annual Lows
Recent sessions have been particularly challenging for silver prices in the short term. Selling pressure has intensified considerably, resulting in three consecutive losing sessions and pushing the metal to a decline of nearly 8.5% over this period.
EUR/USD Analysis: Euro Loses Ground After a Stronger-Than-Expected U.S. CPI Report
The trading week continues to unfold and weakness around the euro has once again become increasingly evident in the short term. This can be seen in the recent performance of EUR/USD, which has declined roughly 0.3% over the last three trading sessions, highlighting renewed strength in the U.S. dollar.
USD/JPY forecast: hot US CPI lifts the pair above its 200-day average
Hotter-than-expected US inflation has pushed USD/JPY above its 200-day moving average, putting 160 and the risk of Bank of Japan intervention back in focus. The breakout still needs to hold, and a failure could send the pair sharply lower.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.