Attention may turn to the Swiss franc’s ability to rebound as resistance builds

Attention may turn to the Swiss franc’s ability to rebound as resistance builds

12.11.2024

In the previous day's U.S. currency trading, the U.S. dollar rose against the euro.The EUR/USD pair fell from 1.0728 to 1.0628. It declined as it encountered resistance at the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the 10-period MA is currently capping the upside, and on the daily chart, the RSI has dropped to around 33. Since prices have already stalled near the lows set in April of this year, we should pay close attention to price movements during European trading hours.

Among European currencies, the Swiss franc was particularly weak. The USD/CHF pair rose from 0.8745 to 0.8809, surging sharply from the vicinity of the 75-period moving average on the hourly chart. On the 4-hour chart, the price has already extended to the +2σ level of the Bollinger Bands, and on the daily chart, it is on the verge of breaking above the resistance zone formed by the 200-period simple moving average.

Today’s schedule includes the Australian Westpac Consumer Confidence Index at 8:30, Japan’s Money Supply at 8:50, the Australian NAB Business Conditions Index at 9:30, the UK Unemployment Rate and the Eurozone Consumer Price Index at 16:00, the German ZEW Current Conditions Index at 19:00, and India’sIndustrial Production, 8:00 PM US NFIB Small Business Optimism Index, 9:00 PM Brazil Retail Sales, 11:30 PM Canada Building Permits, 12:00 AM US Fed Governor Waller’s remarks, and 1:30 AM US 3-month Treasury bill auction. We will be watching for signs of a recovery in the Swiss franc, which has faced resistance on the upside.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed