USD-CHF sellers ensure control beneath 0.933, a double-top extended trading level. Yet, the hawkish stance from SNB’s (Swiss National Bank) quarterly data that clashed with United States’ mixed report saw the quote closing the day deteriorated.

The SNB commented in its quarterly analysis (the day before) that the uncertainty related to the Swiss Gross Domestic Product forecast remained elevated. Also, the SNB forecasted inflation to remain high for the conceivable future.

Contrarily, the United States consumer confidence soared to the 108.3 peak in December, exploring its highest mark in eight months. Moreover, the value exceeded the 101.0 market estimate and shifted from the past 101.40 readings. Nonetheless, the United States existing home sales stood at 4.09 million month-on-month in November, versus the previous 4.43 million and the estimated 4.2 million.

In other updates, Russian leader Vladimir Putin’s dedication to strengthening the nation’s military strength and Ukraine’s Volodymyr Zelensky’s US visit test the market’s risk appetite. Moreover, the BoJ’s (Bank of Japan) 2nd unscheduled bond buys and slumped United States Treasury yields have lately catalyzed downside pressure on the Dollar, weighing on the USD-CHF price.

USD/CHF Technical Outlook

The USD-CHF saw a breakthrough to close beyond a pessimistic channel’s resistance, alleviating negative retracement from the dip that kick-started at 1.0145. However, analysts forecast a near-term move to 0.9435. Consequently, the upcoming times will likely experience a bullish bias.

Investors should beware that violating the 0.9185 mark will ruin the forecasted surge and drag prices lower again. Otherwise, a double-top setup extends the 0.9340 resistance. Hovering beneath this mark will increase the chances of a dominant selling trend in the USD-CHF. The pair will likely spend today between the support of 0.9265 and resistance at 0.9385. Nevertheless, Tuesday will likely see a bearish trend below 0.9340.