The USD/CHF pair falls below the round-level support of 0.9100 in Thursday’s European session.
USD/CHF drops below 0.9100, dragged by a correction in the US Dollar. The US Dollar drops as traders reprice the interest rate outlook of other central banks. The SNB could cut interest rates further amid easing price pressures. The Swiss Franc asset comes under pressure as the US Dollar drops amid cheerful market mood. The US Dollar faces selling pressure after refreshing a five-month high. The US Dollar Index drops to 105.
The US Dollar could regain bullish traction, knowing that the United States economy remains resilient due to strong economic growth, tight labor conditions and robust households’ spending. While other economies remain exposed to a technical recession. On the Swiss Franc front, investors could capitalize the corrective move to build fresh longs. In the near-term, the Swiss Franc is expected to face more downside as the Swiss National Bank is expected to reduce interest rates further.
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