The Swiss franc saw little change on Wednesday, with USD/CHF trading at 0.8838, down 0.04% for the day. The Swiss National Bank’s upcoming rate decision on Thursday has investors on edge. Following a surprising rate cut in March, there is speculation on whether the SNB will lower rates again or keep them steady. While inflation remains within the SNB’s target range and Swiss growth has been stable, weak exports and a stronger Swiss franc may push the central bank towards another rate decrease. The uncertainty surrounding the SNB meeting could lead to volatility in the Swiss franc on Thursday.
In terms of technical analysis, support for USD/CHF is seen at 0.8809 and 0.8777, with resistance levels at 0.8860 and 0.8892. The outcome of the SNB meeting will likely impact the currency pair’s movement in the near term.