Philadelphia Federal Reserve President Patrick Harker restated Fed’s determination to bring down inflation. The US housing market continues to suffer amid higher interest rates. The US labor market continues to be strong, posing a challenge to the Fed. Today’s USD/CHF price analysis is bullish as dollar strength pushes the pair higher. The dollar soared after Philadelphia Federal Reserve President Patrick Harker said that the central bank would “keep raising rates for a while.” -Are you looking for the best AI Trading Brokers? Check our detailed guide- “Harper’s comments confirmed that the Fed is all in on continued aggressive policy and future (interest) rate increases,” said Ryan Detrick, chief market strategist at Carson Group in Omaha. According to CME’s FedWatch tool, financial markets have already completely priced a further 75 basis point increase in interest rates from the Federal Reserve when it meets next month. Sales of existing US homes declined for an eighth consecutive month in September and are anticipated to decline further in the coming months. The housing market continues to stand out as the economic sector is being struck the hardest by the Federal Reserve’s aggressive interest rate hikes. However, the US labor market and consumer spending have exhibited little change, suggesting the Fed may still need to strive to reduce the overall demand, which is keeping pricing pressures high. The Labor Department reported an unexpected decrease in the number of people applying for unemployment benefits for the first-time last week. For October 15, the Labor Department reported an unexpected 12,000 decrease in initial claims for state unemployment benefits, bringing the total to a seasonally adjusted 214,000. USD/CHF key events today The pair will likely have a quiet trading session today as there won’t be any significant news releases from the US or Switzerland. Get FREE Forex Signals Now! USD/CHF technical price analysis: Bulls succeed at breaking above-range resistance Looking at the 4-hour chart, we see the price trading above the 30-SMA and the RSI above 50, a sign that bulls are in control. However, a closer look shows the price has been trading within a bigger consolidation with resistance at 1.0065 and support at 0.9925. -Are you looking for the best MT5 Brokers? Check our detailed guide- At the same time, we see the price respecting the 30-SMA as support, showing the price is ready to trade above the consolidation. The bullish trend will only continue if the price breaks and successfully closes above the range resistance. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next USD/CAD Weekly Forecast: BoC’s Massive Hike Expected Next Week Saqib Iqbal 1 month Philadelphia Federal Reserve President Patrick Harker restated Fed's determination to bring down inflation. The US housing market continues to suffer amid higher interest rates. The US labor market continues to be strong, posing a challenge to the Fed. Today's USD/CHF price analysis is bullish as dollar strength pushes the pair higher. The dollar soared after Philadelphia Federal Reserve President Patrick Harker said that the central bank would "keep raising rates for a while." -Are you looking for the best AI Trading Brokers? Check our detailed guide- "Harper's comments confirmed that the Fed is all in on continued aggressive policy and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.