Posted 1/29/2024, 1:46:20 PM
USD/CHF Holds Near Support Ahead of Fed Decision; Rate Cut Expectations Ease
- USD/CHF bounces from 0.8600 support level amid cautious investor sentiment ahead of Fed policy decision
- Investors have scaled back expectations for Fed rate cuts, now seeing first cut in May rather than March
- Fed expected to leave interest rates unchanged for 4th straight meeting
- If USD/CHF breaks 0.8652 resistance, it could rally to 0.8700 and 0.8728 levels
- Support at 0.8600 from 20-day EMA; below that next targets are 0.8500, 0.8455 and 0.8408