#USDCHF @ 0.89842 is approaching the psychological resistance of 0.9000 amid deepening concerns over US debt-ceiling issues. (Pivot Orderbook analysis)
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
- USD/CHF is approaching the psychological resistance of 0.9000 amid deepening concerns over US debt-ceiling issues.
- If situation of default in obligated payments by the US Treasury comes across, its long-term credibility will get impacted dramatically.
- The restrictive monetary policy approach by the SNB is weighing effectively on inflationary pressures.
The pair currently trades last at 0.89842.
The previous day high was 0.8988 while the previous day low was 0.8897. The daily 38.2% Fib levels comes at 0.8953, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8932, expected to provide support.
The USD/CHF pair is marching towards the psychological resistance of 0.9000 in the Asian session. The Swiss franc asset is looking to continue its two-day winning streak if it manages to overstep Friday’s high at 0.8988. The major is eyeing more gains as United States debt-ceiling issues have underpinned the risk-aversion theme.
S&P500 futures have added some losses in the Asian session after a mild bearish Friday, indicating caution among investors ahead of negotiations over US debt-ceiling issues. Investors are worried that if the situation of default in obligated payments by the US Treasury comes across, the long-term credibility of the US economy will get impacted dramatically. Also, the risks of recession will get fueled heavily.
The US Dollar Index (DXY) is showing a sideways performance around 102.70, however, the upside seems favored amid improvement as a safe-haven appeal despite chances of no further rate hikes by the Federal Reserve (Fed
Major US economic indicators are appealing to a pause in the rate-hiking spell by the Federal Reserve. US inflation and prices offered by producers for goods and services at factory gates have slowed down, and labor market conditions are softening due to tight credit conditions and a bleak economic outlook, which indicates that the Fed will halt its aggressive policy-tightening spree to shield the economy from severe damage.
On the Swiss franc front, investors are awaiting the release of the Producer and Import Prices data (April). Monthly economic data is seen contracting by 0.1% vs. expansion of 0.2%. Also, the annual data will soften to 1.1% from the former release of 2.1%. This indicates that the restrictive monetary policy approach by the Swiss National Bank (SNB) is weighing effectively on inflationary pressures.
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.8984 at the time of writing. Pair opened at 0.8983 and is trading with a change of 0.01 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8984 |
| 1 | Today Daily Change | 0.0001 |
| 2 | Today Daily Change % | 0.0100 |
| 3 | Today daily open | 0.8983 |
The pair is trading above its 20 Daily moving average @ 0.8924, below its 50 Daily moving average @ 0.9069 , below its 100 Daily moving average @ 0.9165 and below its 200 Daily moving average @ 0.9415
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8924 |
| 1 | Daily SMA50 | 0.9069 |
| 2 | Daily SMA100 | 0.9165 |
| 3 | Daily SMA200 | 0.9415 |
The previous day high was 0.8988 while the previous day low was 0.8897. The daily 38.2% Fib levels comes at 0.8953, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8932, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.8924, 0.8866, 0.8834
- Pivot resistance is noted at 0.9014, 0.9046, 0.9105
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8988 |
| Previous Daily Low | 0.8897 |
| Previous Weekly High | 0.8988 |
| Previous Weekly Low | 0.8868 |
| Previous Monthly High | 0.9198 |
| Previous Monthly Low | 0.8852 |
| Daily Fibonacci 38.2% | 0.8953 |
| Daily Fibonacci 61.8% | 0.8932 |
| Daily Pivot Point S1 | 0.8924 |
| Daily Pivot Point S2 | 0.8866 |
| Daily Pivot Point S3 | 0.8834 |
| Daily Pivot Point R1 | 0.9014 |
| Daily Pivot Point R2 | 0.9046 |
| Daily Pivot Point R3 | 0.9105 |
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
