USD/CHF Lower Today

USD/CHF is trading lower after a few days of consolidation at its highest point above 1.0300. The pair reached a high of 1.0344 and immediately retreated to lower levels but still managed to hold above key 1.0300 level. A few days passed and price was struggling to keep the momentum.

A few times the US dollar gave in to bullish pressure going below 1.0300 but then again got back up above and has entered into consolidation that continues up to now. Main trend on the long-term remains bullish but with the decent sideways trading we might expect to reach below 1.0230.

If that happens, next bear target would be to go below 1.0100 and then parity again. On the other hand, bulls are on standby awaiting January when President-elect will be officially sworn as President of the United States. Given his powerful administration, market participants have high hopes for the future of the US equities and currency and these expectations may provide the next boost in the US dollar against its counterparts.

Chart: USD/CHF D1