USDCHF should end the week above 1%, but the bias is bearish. In the short term, USDCHF settled around 0.9350-0.9 50, with buyers waiting for 0.9600. , USDCHF is up for a fifth straight day after falling more than 5 percent last week amid a weaker-than-expected US inflation report. However, hawkish comments from Federal Reserve (Fed) officials throughout the week strengthened the US dollar (USD) at the expense of the Swiss franc (CHF). At the time of writing, USDCHF is trading at 0.9536, 0.26% above its opening price. USDCHF PRICE ANALYSIS: TECHNICAL OVERVIEW The USDCHF daily chart has a pair of bearish trends. Based on last week’s price action, USDCHF fell below the 50, 100 and 200 day Exponential Moving Averages (EMA), while the Relative Strength Index (RSI) dipped to oversold conditions. When USDCHF hit a fresh multi-month low around 0.9356, the price action formed a hammer candlestick, and since then, the key has moved higher at the current rate. However, the bias remains intact as the RSI has exited oversold conditions but remains in bearish territory. In the short term, the -hour chart of USDCHF shows a key bottom between 0.9350 and 0.9 80. On Thursday, USDCHF rallied, hitting a weekly high of 0.9557, but the key is consolidating between 0.9500-0.9559. If USDCHF breaks above, the next resistance will be 0.9600, followed by the November 11 intraday high of 0.9681, before 0.9700. USDCHF Key support levels are at the psychological level of 0.9500. A breach of the latter would reveal the November 17 intraday low at 0.9 32, followed by the November low around 0.9356.

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