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Swiss government: Federal Council will continue to negotiate with the US. | investingLive

The Swiss government is responding to a failed meeting yesterday:

  • Federal Council to continue negotiations with the United States

  • Will shortly engage in detailed discussions on potential relief measures for Swiss businesses and continue to assess the need for further economic policy action

  • As of today, nearly 60% of Swiss exports to the United States are subject to additional tariffs

  • At present, tariff countermeasures in response to the US tariff increases are not being considered

The Swiss president Keller-Suter is now adding.

  • Introduction of tariffs is an extraordinary difficult situation.

  • Goal of Washington visit was to present new offer to US officials, this was achieved and a positive development.

  • It was clear that the US president is sticking to tariffs in the short term.

  • Talks with the United States will continue

  • Tthe strength of our industry should not be put in question by higher US tariffs.

  • Our industries as withstood many challenges in the past like the Corona pandemic, and the minimum exchange rate.

  • We have pointed out that we were buying F35 jets and we are keeping to that.

  • Swiss economy will have to settle for economic growth of between 0.5% and 1% this year and next.

  • Sees the economy calling significantly this year, growing at around 0.8%.

I am not sure about the “positive” from the visit, but you have to start somewhere. Technically,

Technically, looking at the hourly chart, USDCHF broke above both its 100-hour and 200-hour moving averages (blue and green lines on the chart below) earlier today—an encouraging development for short-term buyers. Notably, the pair had stalled against the 100-hour MA in yesterday’s session before retreating lower. This morning’s breakout shifted the short-term bias back in favor of the bulls.

However, the momentum has faded, and price action is now retesting those same moving averages, making this a critical inflection point. Holding above the 100/200-hour MAs would keep buyers in control. A break back below, though, could trigger renewed selling pressure as the failed breakout disappoints bullish sentiment.

To the downside, today’s low found support just ahead of the 50% retracement of the July 23 to August rally, which comes in at 0.80405. If the pair falls back below the moving averages, traders will likely shift their focus toward that midpoint support level as the next downside target.