The pair climbs from a one-week low as softer US data reduces Fed rate hike bets, easing dollar support.
USD/CHF rose to 0.8112 on Monday after hitting an intraday low of 0.8072, its weakest level in over a week. The rebound followed a recovery in the US Dollar Index (DXY), which traded near 99.60 after dipping to 99.30, its lowest since June 5.
Analysts noted the DXY remains above its 200-day moving average at 99.20, a key technical support. However, softer US economic data has led markets to scale back expectations for Federal Reserve rate hikes, weakening the dollar’s fundamental outlook.
Technical indicators show a mild bullish bias for USD/CHF, though momentum has softened. The RSI stands at 52, while the MACD hovers slightly below zero, and the ADX at 16 signals weak trend strength, suggesting consolidation rather than a strong directional move.