Swiss Franc Technical Outlook: USD/CHF Sharp Rebound Breaks October Downtrend
USD/CHF bulls are building on a sharp rebound from critical support, with the recovery opening the door to a larger advance toward key resistance.
Written by
Michael Boutros
Sr. Technical Strategist
Swiss Franc Technical Outlook: USD/CHF Multi-Timeframe Analysis
The USD/CHF outlook centers on a dollar rebound against the Swiss franc, fueled by hot U.S. CPI data and rising Fed rate hike bets. Michael Boutros, StoneX Media Senior Market Analyst, breaks down the weekly, daily and four-hour USD/CHF charts and the inflation data and Federal Reserve commentary behind the move. Stronger than expected month-on-month headline and core CPI readings, along with comments from Federal Reserve officials Christopher Waller, Michelle Bowman and Austan Goolsbee, have lifted expectations for more aggressive tightening. Markets are fully priced for a December Fed rate hike and almost 90% priced for at least another 25-basis point hike by March. On the charts, the U.S. dollar Swiss franc recovery has broken the four-hour downtrend and is testing pitchfork resistance near the 61.8% Fibonacci retracement of the October decline.
This content was created by an affiliate of StoneX Trading and represents the views and opinions of the author/speakers, not the views and opinions of StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by StoneX Trading.
Key US Economic Data Releases
Active Short-term Technical Video Updates
- Gold Technical Outlook: XAU/USD Bulls Fight to Hold Breakout Support After 7% Rally
- US Dollar Technical Outlook: DXY Bulls Fight to Hold Critical Support Ahead of NFP
- Euro Technical Outlook: EUR/USD Support Reversal Sets Up Breakout Test Ahead of NFP
- Australian Dollar Technical Outlook: AUD/USD October Breakout Reverses Toward Critical Support
- British Pound Technical Outlook: GBP/USD Reversal Threatens October Recovery
- Canadian Dollar Technical Outlook: USD/CAD Plunge Tests Critical Support Ahead of BoC, Fed
--- Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
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