Current trend
US dollar updated local maximums against Swiss franc during trading on Wednesday, September 27, but lost a number of gained positions by the moment of closing of the daily session. USD is supported by optimistic forecasts about further tightening of the Fed's monetary policy at the end of 2017. Along with this, investors are cautious before the release of final data on GDP and personal expenditure dynamics in the USA in August on Thursday. Moreover, the Fed's representatives Esther George and Stanley Fisher are to make speeches today.
Franc may receive moderate support on Thursday from the data on business sentiment in Eurozone in September. Business climate indicator is expected to increase from 1.09 to 1.11 points. ECB representatives Peter Praet and Sabina Lautenschlaeger are to make statements on Thursday at 10:00 (GMT+2) and 13:10 (GMT+2) respectively. If they advocate for potential tightening of the monetary policy in Eurozone, USD may meet considerable resistance.
Support and resistance
Bollinger Bands in D1 chart demonstrate increase. The price range is narrowing. MACD indicator is growing preserving a stable buy signal (the histogram is above the signal line).
Stochastic is oscillating.
Resistance levels: 0.9745, 0.9767, 0.9806.
Support levels: 0.9715, 0.9677, 0.9650, 0.9615.
Trading tips
Long positions may be opened after the breakthrough of the level of 0.9767 with target at 0.9850 and stop-loss at 0.9715. The period of implementation is 2-3 days.
Breaking down the level of 0.9715 may be a signal for sales with target around 0.9650 and stop-loss at 0.9767. The period of implementation is 2-3 days.
US dollar updated local maximums against Swiss franc during trading on Wednesday, September 27, but lost a number of gained positions by the moment of closing of the daily session. USD is supported by optimistic forecasts about further tightening of the Fed's monetary policy at the end of 2017. Along with this, investors are cautious before the release of final data on GDP and personal expenditure dynamics in the USA in August on Thursday. Moreover, the Fed's representatives Esther George and Stanley Fisher are to make speeches today.
Franc may receive moderate support on Thursday from the data on business sentiment in Eurozone in September. Business climate indicator is expected to increase from 1.09 to 1.11 points. ECB representatives Peter Praet and Sabina Lautenschlaeger are to make statements on Thursday at 10:00 (GMT+2) and 13:10 (GMT+2) respectively. If they advocate for potential tightening of the monetary policy in Eurozone, USD may meet considerable resistance.
Support and resistance
Bollinger Bands in D1 chart demonstrate increase. The price range is narrowing. MACD indicator is growing preserving a stable buy signal (the histogram is above the signal line).
Stochastic is oscillating.
Resistance levels: 0.9745, 0.9767, 0.9806.
Support levels: 0.9715, 0.9677, 0.9650, 0.9615.
Trading tips
Long positions may be opened after the breakthrough of the level of 0.9767 with target at 0.9850 and stop-loss at 0.9715. The period of implementation is 2-3 days.
Breaking down the level of 0.9715 may be a signal for sales with target around 0.9650 and stop-loss at 0.9767. The period of implementation is 2-3 days.