#USDCHF @ 0.90200 remains comfortable above 0.9000 as the focus shifts to Fed monetary policy.

…
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 remains comfortable above 0.9000 as the focus shifts to Fed monetary policy.

The pair currently trades last at 0.90200.

The previous day high was 0.9049 while the previous day low was 0.9008. The daily 38.2% Fib levels comes at 0.9023, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9033, expected to provide resistance.

The USD/CHF pair trades back and forth above the psychological resistance of 0.9000 in the early European session. The Swiss Franc asset aims to extend upside as investors remain cautious ahead of the interest rate decision by the Federal Reserve (Fed), which is scheduled for Wednesday.

S&P500 futures generated some losses in the Tokyo session, indicating a risk-off mood amid geopolitical tensions. The Israeli army is all set for a ground assault in Gaza to demolish Palestine military troops in retaliation to airstrikes from Hamas since October 7.

The US Dollar Index (DXY) struggles to extend upside above 106.40 as a neutral interest rate decision from the Fed is widely anticipated. However, the outlook would remain hawkish due to robust consumer spending, strong labor market conditions, and potential signs of recovery in the manufacturing and service sectors.

The market participants expect that excess price pressures above the 2% inflation target are the most stubborn as the US economy is resilient despite higher borrowing costs. Therefore, hawkish guidance would be appropriate. Apart from easing price pressures, higher US long-term bond yields are allowing Fed policymakers to keep interest rates steady. 10-year US Treasury yields have rebounded to near 4.88%.

On the Swiss Franc front, investors await the speech from Swiss National Bank (SNB) Chairman Thomas J. Jordan, which is scheduled for Wednesday. SNB Jordan is expected to discuss about keeping interest rates unchanged at 1.75% for a longer period to ensure price stability. This week, the Swiss inflation data for October will be keenly watched.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9021 at the time of writing. Pair opened at 0.902 and is trading with a change of 0.01 % .

The pair is trading below its 20 Daily moving average @ 0.9026, above its 50 Daily moving average @ 0.8982 , above its 100 Daily moving average @ 0.8896 and above its 200 Daily moving average @ 0.9007

The previous day high was 0.9049 while the previous day low was 0.9008. The daily 38.2% Fib levels comes at 0.9023, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9033, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9002, 0.8984, 0.8961
• Pivot resistance is noted at 0.9044, 0.9067, 0.9085

[/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...