Daily Market Analysis 01.12.2023: USDCHF

Instrument: USDCHF

Bullish Preference: 
A Buy position is envisaged if the price trades above 0.87506 with take profit at 0.87599.
Bearish Preference: 
A Sell position is envisaged if the price trades below 0.087284 with take profit at 0.87166
Final Manufacturing PMI  3:45 PM
ISM Manufacturing PMI  4:00 PM
Fed Chair Powell Speaks 5:00 PM

The decline in the US Dollar (USD) weighs on the USD/CHF pair following the likelihood of ending the interest rate hike by the US Federal Reserve (Fed).

Swiss National Bank (SNB) Chairman Thomas Jordan has acknowledged earlier the possibility of future interest rate hikes, contributing support to underpinning the CHF.

Analysis: SCRUM Team

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