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 fluctuated between 1.1689 and 1.1729, with price action remaining within the 20-period moving average (MA) on the hourly chart throughout the session.On the 4-hour chart, the pair is showing minor fluctuations between the 75-period and 20-period moving averages, 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 franc/yen 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 at 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 to whether a pullback may occur 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 at 8:50, Japan’s Inbound/Inward Securities Investment at 8:50, the German Consumer Price Index at 15:00, South African Manufacturing Output at 20:00, U.S. Initial Jobless Claims at 21:30, U.S. Musalem:Statement by St. Louis Fed President Musalem, at 23:30: U.S. Weekly Natural Gas Inventories, at 26:00: U.S. 30-Year Treasury Auction, and at 26:15: U.S. Statement by Fed Governor Waller. We will be watching for further upside potential in the Swiss franc, which continues to hit new highs.
