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    ​USD/CHF May Enter into Long-term Bearish Trend

    Abstract:USD/CHF suffered a loss recently and may adopt a bearish outlook in the long term amid the languish demand for the U.S. dollar.

      WikiFX News (8 Oct.) - USD/CHF suffered a loss recently and may adopt a bearish outlook in the long term amid the languish demand for the U.S. dollar.

      Due to the large uncertainties in the U.S. General Election and the unclear economic outlook, the Swiss franc remains the markets preferential investment as a safe haven, which in turn boosts itself. According to Goldman Sachs, CHF has hit the best level since 2015 and may extend its gains as markets are testing how determined is the Swiss National Bank (SNB) to intervene in the currency.

      The SNB Chairman said that the rapid appreciation of the Swiss franc needs to be prevented for its hurt on Switzerlands export-orientated economy. Thus negative rates on the Swiss franc and interventions on forex markets remain crucial.

      However, the ambiguous prospect will obstruct the SNB from strengthening the franc. The demand for the currency may rise drastically on any signal of the settlement risk.

      USD/CHF has fallen below the March-low of 2020 to about 0.9182, the same level to the 2015 low. The pair may enter into a long-term bearish trend if the status quo is maintained.

      All the above is provided by WikiFX, a platform world-renowned for foreign exchange information. For details, please download the WikiFX App: bit.ly/WIKIFX

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      Chart: Trend of USD/CHF

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