January 30, 2025 Technical analysis of USD/CHF The US Dollar is attempting to snap a two-week losing streak with the USD/CHF erasing the Monday sell-off. A defense of multi-month support now shifts the focus to a breakout of the January opening-range with major event risk on tap into the close of the week.
USD/CHF remains steady near 0.9050 ahead of Swiss Trade Balance data USD/CHF moves little as traders await economic releases seeking fresh impetus. US Gross Domestic Product Annualized (Q4) could report a 2.6% growth, down from the previous 3.1%. Swiss Trade Balance and the KOF Leading Indicator are scheduled to be released on Thursday.
steadies after two consecutive days of gains, trading around 0.9070 during the Asian session on Thursday. This decline is mainly attributed to a weaker US Dollar (USD). The US
(DXY), which tracks the Greenback against six major currencies, hovers slightly below the 108.00 mark at the time of writing. Traders are awaiting the release of the US fourth-quarter Gross Domestic Product (GDP) growth data, scheduled for Thursday. The market consensus expects a slowdown in annualized GDP growth, with a forecast of 2.6%, down from the previous 3.1%. Inflationary concerns persist, with the Q4 GDP
expected to rise to 2.5%, up from 1.9%. The downside for USD/CHF may be limited, as the USD could strengthen following the Federal Reserve's (Fed) cautious approach to monetary policy. The Fed maintained its overnight borrowing rate at 4.25%-4.50% during its January meeting on Wednesday, as widely anticipated. This decision follows three consecutive rate cuts since September 2024, totaling a one-percentage-point reduction. In summary, while the USD/CHF pair has shown bullish tendencies, traders should remain cautious due to mixed technical signals and the potential for volatility.
