Swissie looking for a bottom formation

The USD/CHF pair has been oscillating within a one month long range and is now inching closer to the upper boundary as the greenback picks up momentum. The pair lingers at the support of four month low forming a bottoming structure. A subsequent move on the upside above 0.8865 mark would take the price towards 0.8926.
Traders are keenly awaiting Donald Trump's extensive tariff plans which he is going to announce on what is being labelled as the 'Liberation Day' for America since they are aimed at reducing the country's reliance on foreign goods. These reciprocal tariffs will target multiple nations which impose heavy duties on U.S. products.
Furthermore, investors will be closely monitoring the impact of ADP Non-Farm Employment data which is lined up for today. Market expects the US private sector payrolls to rise by 118k which could offer an early glimpse into the Bureau of Labor Statistics jobs report for the month of March. In anticipation of a positive report, the U.S. Dollar is holding onto gains. If the ADP numbers exceed the expectations, it would fuel hopes for a recovery in the labour market, influencing Federal Reserve's decision to maintain its hawkish stance.
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