USD is growing against the main currencies, and the USD/CHF pair has been actively strengthening during the last two months. In the middle of April the momentum strengthened due to the increasing in demand for US currency and poor Swiss macroeconomical data.
Yesterday strong main indices supported US currency. The trend will continue if US Fed will tighten the monetary policy and increase the interest rates. The commentaries of Swiss National bank about its intention to keep current interest rate until 2020 affected the pair positively.
Today the building sector data and consumer confidence release will be published in the USA. In the second half of the trading week the traders will focus on employment market, durable goods orders and US economy growth data.
Support and resistance
Technical indices confirm the growth forecast, MACD long positions’ volumes are rapidly growing, Bollinger Bands are pointed upwards.
Resistance levels: 0.9850, 0.9900, 0.9975, 1.0030.
Support levels: 0.9700, 0.9665, 0.9560, 0.9500, 0.9420, 0.9380.
It is relevant to increase the volume of long positions at the current level with the targets at 0.9975, 1.0030 and stop loss 0.9640.
US Dollar vs Swiss Franc
|Take Profit||0.9975, 1.0030|
|Support levels||0.9380, 0.9420, 0.9500, 0.9560, 0.9665, 0.9700, 0.9850, 0.9900, 0.9975, 1.0030|
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