Should we keep an eye on the Swiss franc’s upside potential as it continues to hit new highs?
10.07.2025
- Japan: Domestic Corporate Prices
- South Africa: Manufacturing Output
In the previous day's U.S. currency trading, the U.S. dollar traded in a tight range against the euro.The EUR/USD pair traded between 1.1689 and 1.1729. Price action remained confined to the area around the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair is showing minor fluctuations between the 75-period and 20-period MAs, while on the daily chart, the RSI has fallen from 75 to 61. Following a pullback from the +2σ level of the Bollinger Bands, the pair is currently searching for direction.
Among European currencies, the Swiss franc strengthened during U.S. trading hours. The CHF/JPY pair rose from 183.704 to 184.560, trading near the 20-period moving average on the hourly chart.On the 4-hour chart, the pair continues to trade with support from the 10-period moving average. On the daily chart, it has risen for three consecutive days. However, since the daily RSI has surged to 81, we should remain cautious as we monitor whether a pullback occurs during European trading hours.
Today’s economic indicators include the UK RICS House Price Index at 8:01, Japan’s Domestic Corporate Goods Price Index and Japan’s Foreign and Domestic Securities Investment at 8:50, Germany’s Consumer Price Index at 15:00, South Africa’s Manufacturing Production at 20:00, U.S. Initial Jobless Claims at 21:30, and U.S. Fed Governor Musalem at 22:00:Statement by St. Louis Fed President Musalem, 11:30 PM: US Weekly Natural Gas Inventories, 2:00 AM: US 30-Year Treasury Auction, and 2:15 AM: Statement by Fed Governor Waller. We will be watching for further upside potential in the Swiss franc, which continues to hit new highs.
Author: Keisuke Sakurai
