USD/CHF Price Forecast: US Dollar clings above 0.7830 with bearish pressure growing
The post USD/CHF Price Forecast: US Dollar clings above 0.7830 with bearish pressure growing appeared on BitcoinEthereumNews.com. The US Dollar (USD) is trading flat against the Swiss Franc (CHF) on Friday, attempting to hold above 0.7830 after rejection at the 0.7900 area on Thursday. News of an extension of the US-Iran truce has boosted a moderate appetite for risk and is weighing on the safe-haven US Dollar across the board. Axios reported on Thursday that the US and Iran had reached a memorandum of understanding to extend the ceasefire for 60 days, although the agreement is still pending the signature of US President Donald Trump. Hopes of peace in Iran have offset the positive USD impact of the strong US Personal Consumption Expenditures (PCE) Price Index figures seen on Thursday, which keep hopes of a Federal Reserve (Fed) rate hike alive. In Switzerland, the KOF Leading Indicator has shown marginal improvement in economic activity in April, with no relevant impact on the Swiss F