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3 June 2025,07:24
Daily Market Analysis
3 June 2025, 07:24
Key Takeaways:
*Swiss Franc appreciated as the market stoked demand for safe-haven investment.
*Switzerland’s GDP beating market expectations helped to boost the currency’s strength.
Market Summary:
The Swiss Franc (CHF) has appreciated in recent trading sessions as investors turned to traditional safe-haven assets amid growing market uncertainty. The shift in sentiment was triggered by former President Trump’s announcement over the weekend proposing a 100% increase in steel and aluminum tariffs, raising concerns about renewed global trade tensions. Additionally, escalating geopolitical risks ahead of Monday’s peace talks between Ukraine and Russia in Istanbul further fueled risk aversion, driving demand for the CHF.
The currency’s strength was further reinforced by Switzerland’s stronger-than-expected GDP growth, which accelerated to 2.0% year-over-year, up from the previous reading of 1.6%. This positive economic data underscored the resilience of the Swiss economy, enhancing the franc’s appeal as both a safe-haven and fundamentally sound currency.
With risk sentiment remaining fragile, the CHF may continue to attract inflows unless geopolitical or trade tensions ease. However, traders should remain cautious of potential intervention risks, as the Swiss National Bank (SNB) has historically acted to curb excessive franc appreciation.
The USDCHF pair continues to face sustained selling pressure, now testing a crucial support zone around the 0.8200 level. This technical threshold represents a make-or-break level for the pair – a decisive breakdown below this support would confirm the bearish structure and potentially open the door for further declines toward 0.8100 in extension.
The pair’s price action has been painting an increasingly concerning picture for bulls, maintaining a clear pattern of lower highs and lower lows that underscores the dominant downtrend. This bearish technical structure finds confirmation in the momentum indicators, where the Relative Strength Index’s persistent decline reflects growing selling pressure, while the MACD’s position firmly below the zero line signals that bearish momentum remains intact.
Fundamental factors continue to compound the pair’s challenges, with CHF finding support from resilient crude oil prices while the US dollar faces broad-based weakness across currency markets. The convergence of these technical and fundamental pressures suggests the path of least resistance remains to the downside unless buyers can force a meaningful rebound above the 0.8250-0.8280 resistance zone.
As the pair approaches this critical technical inflection point, traders should monitor price action around the 0.8200 level closely. The coming sessions will likely determine whether the current support can spark a consolidation or if bearish momentum will prevail, potentially triggering the next leg lower in this established downtrend.
Resistance Levels: 0.8220, 0.8400
Support Levels: 0.8035, 0.7875
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