The USD/CHF pair remains under some selling pressure for the third successive day on Thursday and drops to its lowest level since March 13, around the 0.8760 region during the Asian session.
USD/CHF drifts lower for the third straight day amid the post-FOMC USD selling bias. Geopolitical risks further benefit the safe-haven CHF and contribute to the downfall. A positive risk tone holds back bearish traders from placing fresh and helps limit losses. The downfall validates the overnight breakdown through the 0.8800 round figure and is sponsored by the post-FOMC US Dollar selling bias. The Fed eral Reserve decided to hold its benchmark interest rate steady in the 5.25%-5.
Nevertheless, the aforementioned fundamental backdrop favors bearish traders and suggests that the path of least resistance for spot prices is to the downside. That said, investors are likely to wait for the release of the closely-watched US monthly employment details – popularly known as the Nonfarm Payrolls report on Friday – before placing fresh bets.
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