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23.01.202513:26 Forex Analysis & Reviews: USD/CHF. Analysis and Forecast

Relevancia 05:00 2025-01-24 UTC--5

Exchange Rates 23.01.2025 analysis

The USD/CHF pair continues to trade within a narrow range, attempting to capitalize on a modest rebound from the 0.9030 level, which marks a two-week low. Currently, spot prices are hovering around 0.9060, with little change on the day, indicating restrained market activity, particularly for the US dollar.

Exchange Rates 23.01.2025 analysis

The US Dollar Index (DXY), which measures the dollar's performance against a basket of currencies, is also struggling to sustain its rebound from yesterday's monthly low.

Exchange Rates 23.01.2025 analysis

Expectations that the Federal Reserve may cut interest rates twice this year are weighing on the dollar. However, the rise in US Treasury yields is providing some support to the greenback, which, in turn, supports the USD/CHF pair.On the other hand, comments from Swiss National Bank (SNB) Chairman Martin Schlegel hinting at the possibility of introducing negative interest rates continue to pressure the Swiss franc (CHF). Additionally, the bullish trend in equity markets is weakening demand for safe-haven assets like the CHF, limiting the potential for significant declines in the USD/CHF pair.

Traders appear to be adopting a wait-and-see approach ahead of US President Donald Trump's speech at the World Economic Forum, where important announcements regarding tariffs may be made. This could trigger volatility in global financial markets and impact the USD's performance, influencing the USD/CHF pair and providing new trading opportunities.

Today, attention will also focus on the US weekly initial jobless claims data, scheduled for release during the early North American session. However, the current fundamental backdrop suggests caution before taking positions to continue the recent pullback from the 0.9200 level, which is the highest level since May 2024, reached earlier this month.

From a technical perspective, oscillators on the daily chart remain in positive territory, preventing the pair from experiencing deeper losses.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Irina Yanina,
Analytical expert of InstaSpot
© 2007-2025
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