Will the market wait and see how much room the Swiss franc has to recover as resistance builds?

Will the market wait and see how much room the Swiss franc has to recover as resistance builds?

18.07.2025

In the U.S. currency market yesterday, the U.S. dollar rebounded against the yen after the release of U.S. June retail sales data, which improved to +0.6% from -0.9% the previous month. The USD/JPY pair rose from 147.694 to 149.075. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it.On the 4-hour chart, the pair has recovered from below the 20-period moving average (MA) to above it, and on the daily chart, the upward trend continues, supported by the 10-period MA.

Among European currencies, the Swiss franc faced resistance at higher levels. The USD/CHF pair rose from 0.7993 to 0.8063. The price rose along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair rebounded to just below the 200-period exponential moving average (EMA), and on the daily chart, it broke above the 20-period MA—which had previously acted as resistance—with a bullish candle. We will be watching for signs of a trend reversal to see if the Swiss franc continues to weaken during today’s U.S. trading session.

Today’s key economic indicators include remarks by U.S. Federal Reserve Chair Waller at 7:30 a.m., Japan’s Consumer Price Index at 8:30 a.m., Germany’s Producer Price Index at 3:00 p.m., the Eurozone’s Current Account Balance at 5:00 p.m.,a speech by German Bundesbank President Nagel at 5:15 PM, the Eurozone Construction Output at 6:00 PM, U.S. Housing Starts at 9:30 PM, and the University of Michigan Consumer Sentiment Index at 11:00 PM. We intend to cautiously monitor the Swiss franc, which has faced resistance on the upside, for any potential recovery.

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