The currency pair USDCHF, trading at a level of 0.91505, is remaining stable at approximately 0.9148 before important upcoming events.

…
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 flat around 0.9148 ahead of the key events.

The pair currently trades last at 0.91505.

The previous day high was 0.9217 while the previous day low was 0.9147. The daily 38.2% Fib levels comes at 0.9174, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.919, expected to provide resistance.

The USD/CHF pair consolidates its losses around 0.9148 during the early Asian trading hours on Friday. The pair edges lower due to a correction of the US Dollar (USD) and lower US Treasury yields. Meanwhile, the US Dollar Index (DXY) hovers around 106.17 after retreating from 106.83, the highest since November.

On Thursday, the US real Gross Domestic Product (GDP) expanded at an annual rate of 2.1% in the second quarter (Q2), as expected. Meanwhile, the US Initial Jobless Claims for the week ending of September 22 climbed to 204K from 202K in the previous week, below the 215K anticipated. The pending home sales dropped 7.1% MoM in August, compared to expectations for a 1.0% drop MoM.

Chicago Federal Reserve (Fed) President Austan Goolsbee said on Thursday that the Fed will return inflation to target and has a chance to do something rare by accomplishing that without a recession. Richmond Fed President Thomas Barkin remarked that the past five months of inflation data have been upbeat but that it is too early to determine what monetary policy would be next. Barkin added that lost data due to the government shutdown would complicate understanding the economy. Investors will assess the narrative of a higher for longer rate in the US against the growth risks posed by the possibility of an imminent US government shutdown. This, in turn, might cap the upside of the Greenback and act as a headwind for the USD/CHF pair.

On the Swiss Franc front, data released on Thursday showed that the Swiss ZEW Survey Expectations came in at -27.6 in September from the previous reading of -38.6. Even though the Swiss National Bank (SNB) paused its rate-hiking cycle at the September meeting, markets anticipate the SNB to maintain a hawkish stance in its monetary policy to protect against a possible spike in imported inflation.

Looking ahead, market players will monitor the Swiss annual Retail Retail Sales for August. The attention will shift to the US Core Personal Consumption Expenditure (PCE) Price Index, the Fed’s preferred measure of consumer inflation, which is expected to decline from 4.2% to 3.9%.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9149 at the time of writing. Pair opened at 0.915 and is trading with a change of -0.01 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 0.8987, 50 SMA 0.885, 100 SMA @ 0.8896 and 200 SMA @ 0.9032.

The previous day high was 0.9217 while the previous day low was 0.9147. The daily 38.2% Fib levels comes at 0.9174, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.919, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9126, 0.9102, 0.9056
• Pivot resistance is noted at 0.9196, 0.9241, 0.9265

[/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...