The pair USDCHF is currently hovering around 0.88991, aiming to break through the significant barrier at 0.8900.

…
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 treads waters to surpass the 0.8900 psychological level.

The pair currently trades last at 0.88991.

The previous day high was 0.8903 while the previous day low was 0.8842. The daily 38.2% Fib levels comes at 0.888, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8865, expected to provide support.

USD/CHF holds ground near 0.8900 during the European session on Wednesday, treading waters to extend gains for the second successive day. The strength in the US Dollar (USD) contributes support to underpin the USD/CHF pair as investors expect the Federal Reserve (Fed) to keep interest rates at a higher level for a prolonged period.

Additionally, the financial markets are factoring in the odds for a 25 basis points (bps) interest rate hike by the end of the year 2023. This optimistic stance continues to support the US Treasury yields, bolstering the confidence of Greenback’s bulls.

The resurgence of trade tensions between the US and China could potentially reinforce the appeal of the traditional safe-haven Swiss Franc (CHF) and act as headwinds for the USD/CHF pair. US Commerce Secretary Gina Raimondo expects no revisions to the US tariffs on China, which were imposed during Trump’s administration until the ongoing review by the US Treasury Office is completed.

US Dollar Index (DXY) hovers around 104.70, which measures the value of the US Dollar (USD) against the six other major currencies. The 10-year US bond yield rose to 4.25%, up by 1.66%, which underpinned the strength in the US Dollar (USD).

Investors will likely watch the upcoming economic data from the United States (US). The release of the US ISM Services PMI for August and the US S&P Global PMIs during the North American session will carry substantial importance. These data releases will supply valuable insights into the present inflation scenario in the United States and may help provide a more distinct direction for the USD/CHF currency pair.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.8898 at the time of writing. Pair opened at 0.8895 and is trading with a change of 0.03 % .

The pair is trading above its 20 Daily moving average @ 0.8809, above its 50 Daily moving average @ 0.878 , above its 100 Daily moving average @ 0.888 and below its 200 Daily moving average @ 0.9061

The previous day high was 0.8903 while the previous day low was 0.8842. The daily 38.2% Fib levels comes at 0.888, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8865, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.8857, 0.8819, 0.8796
• Pivot resistance is noted at 0.8918, 0.8941, 0.8979

[/s2If]
Download Nehcap EAWe have two EAs that are operational on our LIVE accounts.

1. EA-FIX: Check out the details here. Download EA-FIX . EA-FIX is a non-grid HFT scalper.
2. EA-GROWTH: High quality low dd EA using trend grids. Download EA_GROWTHJoin Our Telegram Group

Share this:

• Facebook
• X

Like this:

Like Loading...