USD/CHF has been quite impulsive in the bearish bias yesterday. The price breached below 0.9850 area with a daily close and is expected to estend bearish pressure in the coming days. USD has been struggling to sustain its gains against CHF that is expected to push the price much lower in future.
This week, CHF has been quite positive amid the economic reports which helped the currency to gain momentum against USD. This week, Switzerland's CPI report was published with an increase to 0.4% from the previous value of 0.2% which was expected to be at 0.3% and Unemployment Rate was decreased to 2.6% as expected from the previous value of 2.7%.
On the other hand, USD has been quite mixed with the economic reports which increased the struggle of the currency to gain momentum over CHF. Today, US Final Wholesale Inventories report is going to be published which is expected to be unchanged at 0.0%.
As for the current scenario, US economic report to be published today is expected to have a minor impact on USD gains against CHF, so that CHF is expected to sustain the bearish momentum in the pair further in the coming days. Until the US comes up with upbeat economic report to gain momentum over CHF, the bearish pressure in this pair is expected to remain constant.
Now let us look at the technical view. The price is currently residing below 0.9850 area from where the price is expected to push much lower towards 0.97 support area in the coming days. Though certain correction is expected below 0.9850 area before the price finally starts to push lower in the coming days. The break below 0.9850 was quite correction and expected to lead to certain corrections along the way towards 0.97. As the price remains below 1.00 area, the bearish bias is expected to continue.
