Above 0.8270: USD/CHF Price Forecast points to a continued constructive bias for the US Dollar

0.8270 holds as USD/CHF's retreat from 0.8313 stays above previous highs.
Following the Fed's decision, slightly dovish remarks from Fed Chairman Kevin Warsh weighed on the US Dollar.
Despite weaker bullish momentum, the near-term bias stays positive.

USD/CHF trades at 0.8285. The US Dollar (USD) holds modest gains against the Swiss Franc (CHF) on Thursday as markets remain quiet following the US Federal Reserve (Fed) meeting. The near-term uptrend remains intact, with Wednesday’s retreat from 0.8313 finding a floor above previous highs around 0.8270.

TMGM Analysis: Financial Market News, Economic Calendar & Market Insights

Interest rates were kept unchanged on Wednesday, in line with expectations, but Fed Chairman Kevin Warsh declined to confirm a December rate hike. Expressing confidence that monetary policy was beginning to take effect, Warsh suggested the bank might bring inflation back to its 2% target without undermining growth or having to “throw people out of work”. Markets interpreted his remarks as dovish-leaning.

Pressure on the Swissie also increased after Wednesday's ZEW Survey in Switzerland. Expectations for the economy over the next six months fell in October to their weakest level since March.

0.8285: US Dollar Retains Support as Bullish Momentum Slows | Technical Analysis

At 0.8285, USD/CHF retains a modest upward bias, but momentum signals diverge. A reading of 56 keeps the 4-hour Relative Strength Index (14) in positive territory. By contrast, the Moving Average Convergence Divergence (MACD) indicator has edged below zero, suggesting the advance is losing pace rather than signalling an outright reversal.

Selling pressure has so far been checked above the October 19 high around 0.8270. This area continues to block a decline towards the October 25 low near 0.8230, followed by the key support zone between 0.8180 and 0.8190.

Wednesday's high near 0.8315 marks the first resistance level. A break above it would open the way towards the 17-month highs near 0.8400.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

US Dollar: Today's Currency Performance

The US Dollar (USD) posted its strongest performance against the Australian Dollar today. The table below sets out its percentage moves against the major currencies listed.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.03%	-0.00%	0.08%	-0.12%	0.19%	0.14%	-0.01%
EUR	-0.03%		-0.04%	0.05%	-0.13%	0.16%	0.10%	-0.05%
GBP	0.00%	0.04%		0.08%	-0.10%	0.20%	0.13%	-0.01%
JPY	-0.08%	-0.05%	-0.08%		-0.21%	0.11%	0.02%	-0.10%
CAD	0.12%	0.13%	0.10%	0.21%		0.32%	0.26%	0.12%
AUD	-0.19%	-0.16%	-0.20%	-0.11%	-0.32%		-0.06%	-0.21%
NZD	-0.14%	-0.10%	-0.13%	-0.02%	-0.26%	0.06%		-0.11%
CHF	0.01%	0.05%	0.00%	0.10%	-0.12%	0.21%	0.11%

Percentage movements between major currencies are displayed in the heat map. Select the base currency in the left-hand column and the quote currency in the top row. For instance, choosing the US Dollar on the left and following its row across to the Japanese Yen gives the percentage change for USD (base)/JPY (quote) in the corresponding cell.