USDCHF drifted lower in today’s trading. Yields are falling. The market digested the Fed’s comments yesterday. The Swiss National Bank nevertheless reduced its rates at its last meeting. Federal Reserve comments from Powell and the Fed Governor yesterday suggest the Fed is on hold for an extended period. This should support USDCHF, all else equal.
From a technical perspective though, price has moved back below its 100-day moving average of 0.91216, but above it all the way up to the 100-hour moving average of 0.90897 (and rising). These levels will help define the short-term bias of the pair.
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