Earlier this week, USD/CHF dipped below 0.810—its lowest level since the 2008 financial crisis—driven by so-called safe-haven demand for the Swiss franc amid escalating global trade tensions. However, the pair has since rebounded, climbing above 0.825 following comments by Finance Minister Bessent at the JPMorgan Private Investors Conference. His optimistic outlook on easing trade tensions with China supported the recovery.
Technical Outlook
The USD/CHF remains in a bearish trend, confined within a descending channel (highlighted in red). A brief bullish push into the channel’s upper range this morning failed to gain traction. Currently, the price hovers around the median line—a typical point of equilibrium between buyers and sellers.
While recent gains may have already priced in the positive sentiment, bearish pressure could return, potentially dragging the pair back toward the 0.810 support. However, fundamentals will play a key role. The dollar may strengthen further if:
- China signals a willingness to ease its tariff stance;
- Progress emerges in U.S. trade talks with Japan, South Korea, or India.
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