Current trend
Last week the USD/CHF pair has been consolidating due to some strong technical and fundamental factors. One of it is the position of Swiss Central Bank, which has accented its position that the mild monetary policy is necessary, and his concerns upon the fact that the CHF is overpriced.
Yesterday the Producer and Import Prices publications were even worse that expected, which confirmed the Central Bank positions. After the publication the national currency was weakening against the USD during the day.
Today the investors are focused on the USA Consumer Price Index publication at 14:30 (GMT+2). If the index will differ from the expectations, it will cause the volatility in the market.
Today the development of the correction is expected.
Support and resistance
Support levels: 0.9640, 0.9550, 0.9450, 0.9370.
Resistance levels: 0.9700, 0.9780, 0.9850.
Trading tips
Long positions can be opened at the current price with the target at 0.9780 and stop loss at 0.9650.
Short positions can be opened below the level of 0.9640 with the target at around 0.9550 and stop loss at 0.9670.
Last week the USD/CHF pair has been consolidating due to some strong technical and fundamental factors. One of it is the position of Swiss Central Bank, which has accented its position that the mild monetary policy is necessary, and his concerns upon the fact that the CHF is overpriced.
Yesterday the Producer and Import Prices publications were even worse that expected, which confirmed the Central Bank positions. After the publication the national currency was weakening against the USD during the day.
Today the investors are focused on the USA Consumer Price Index publication at 14:30 (GMT+2). If the index will differ from the expectations, it will cause the volatility in the market.
Today the development of the correction is expected.
Support and resistance
Support levels: 0.9640, 0.9550, 0.9450, 0.9370.
Resistance levels: 0.9700, 0.9780, 0.9850.
Trading tips
Long positions can be opened at the current price with the target at 0.9780 and stop loss at 0.9650.
Short positions can be opened below the level of 0.9640 with the target at around 0.9550 and stop loss at 0.9670.