Created
: 2024.11.06
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
USD/CHF Price Forecast: Strives to extend rally above 200-day EMA
World FX news
Breaking news
USD/CHF Price Forecast: Strives to extend rally above 200-day EMA
New
2024.11.06 20:06
2024.11.06 20:06
2024.11.06 20:06
- USD/CHF holds onto intraday gains near 0.8750 on US Trump's victory.
- Market participants are expected to face higher import tariffs in Trump's administration.
- The Swiss Franc pair rallies after breaking above 38.2% Fibo retracement at 0.8700.
The USD/CHF pair rallies to near 0.8750 in Wednesday's European session. The Swiss Franc pair surges to a fresh three-month high as the US Dollar (USD) soars with former President Donald Trump gaining an unconquered lead over Democratic rival Kamala Harris in the United States (US) presidential elections.
The US Dollar is one of the major beneficiaries of Trump's victory as he is expected to implement protectionist policies after taking the Senate in a way to boost domestic investment. Trump vowed to raise import tariffs by 10% and lower corporate taxes if he comes into power.
The US Dollar Index (DXY), which gauges the Greenback's value against six major currencies, surrenders some of its intraday gains but is still 1.30% higher, around 104.80, at the time of writing.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 1.75% | 1.10% | 1.62% | 0.42% | 0.90% | 0.55% | 1.40% | |
| EUR | -1.75% | -0.63% | -0.13% | -1.30% | -0.84% | -1.18% | -0.34% | |
| GBP | -1.10% | 0.63% | 0.50% | -0.67% | -0.22% | -0.56% | 0.29% | |
| JPY | -1.62% | 0.13% | -0.50% | -1.18% | -0.72% | -1.07% | -0.22% | |
| CAD | -0.42% | 1.30% | 0.67% | 1.18% | 0.47% | 0.12% | 0.97% | |
| AUD | -0.90% | 0.84% | 0.22% | 0.72% | -0.47% | -0.34% | 0.52% | |
| NZD | -0.55% | 1.18% | 0.56% | 1.07% | -0.12% | 0.34% | 0.85% | |
| CHF | -1.40% | 0.34% | -0.29% | 0.22% | -0.97% | -0.52% | -0.85% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Going forward, investors will focus on the Federal Reserve's (Fed) interest rate decision, which will be announced on Thursday. The Fed is expected to cut interest rates by 25 basis points (bps) to 4.50%-4.75%.
Meanwhile, the Swiss Franc (CHF) remains on the back foot against the US Dollar for more than a month as the Swiss National Bank (SNB) is expected to cut interest rates again in the last monetary policy meeting of this year in December.
USD/CHF delivers a sharp rally after breaking above the 38.2% Fibonacci retracement around 0.8700. The tool is plotted from May's high of 0.9225 to September 6 low of 0.8375. The Swiss Franc pair bounced back sharply after gaining ground near the 50-day Exponential Moving Average (EMA), which trades around 0.8617 and has rallied to near the 200-day, which hovers around 0.8750.
The 14-day Relative Strength Index (RSI) climbs above 60.00, suggesting a fresh bullish momentum in sight.
More upside looks likely towards the round-level resistance of 0.8800 and the July 25 high of 0.8850 after sustaining above the 200-day EMA.
On the flip side, a downside move below the 50-day EMA near 0.8617 will push the asset lower to a 23.6% Fibo retracement level near 0.8570, followed by the psychological support of 0.8500.
USD/CHF daily chart
Last updated
: 2024.11.06
Related articles
What Trump's election means for Europe and the Netherlands - ABN AMRO
4 minutes agoEUR/GBP Price Forecast: Falls back down to floor of range
8 minutes agoUSD/CAD returns above 1.3900 as US Dollar strengthens across the board
19 minutes agoNZD/USD trends lower after Trump victory and weak NZ employment data
53 minutes agoUS Dollar soars to four-month high as Trump wins US presidency
2024.11.06 21:06USD/JPY: Sell rallies - OCBC
2024.11.06 20:34
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
What Trump's election means for Europe and the Netherlands - ABN AMRO
The clear victory for president Trump overnight poses significant downside risks to the growth outlook for the eurozone - and especially that of export-orientated Germany and the Netherlands, ABN AMRO's economists note.
New
2024.11.06 22:24EUR/GBP Price Forecast: Falls back down to floor of range
EUR/GBP declines all the way back down to the base of its six-week range (red dashed line on chart) at roughly 0.8311; it is likely to encounter firm support at the level.
New
2024.11.06 22:20USD/CAD returns above 1.3900 as US Dollar strengthens across the board
The USD/CAD pair recovers Tuesday's sell-off and returns above the key figure of 1.3900 in North American trading hours on Wednesday.
New
2024.11.06 22:09NZD/USD trends lower after Trump victory and weak NZ employment data
NZD/USD trades down by over three quarters of a percent in the 0.5940s as the US Dollar (USD) strengthens across the board following the announcement that the Republican nominee Donald Trump won the US presidential election.
New
2024.11.06 21:35US Dollar soars to four-month high as Trump wins US presidency
The US Dollar (USD) rises sharply on Wednesday after former US President Donald Trump secured enough electoral votes to become the next US president. The former US President has secured 277 votes, more than enough to surpass the magic 270
New
2024.11.06 21:06USD/JPY: Sell rallies - OCBC
USD/JPY rose, as polls skewed in favour of Trump at point of writing.
New
2024.11.06 20:34EUR/USD: 2-way risks remain - OCBC
The Euro (EUR) traded sharply lower, in response to US elections.
New
2024.11.06 20:25USD: Waiting for details - Rabobank
The 'Trump Trade' was fully unleashed in the market this morning as evidenced across stocks, bonds, FX and crypto.
New
2024.11.06 20:17USD/CHF Price Forecast: Strives to extend rally above 200-day EMA
The USD/CHF pair rallies to near 0.8750 in Wednesday's European session.
New
2024.11.06 20:05DXY: 2-way trades to dominate - OCBC
The US Dollar (USD) traded higher, as vote count skews in favour of Trump at time of writing.
New
2024.11.06 20:04Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
