Current trend

USD strengthens against CHF. The pair broke the resistance level of 5/8 Murrey (0.9674) and is now growing to the level of 0.9704.

USD is supported by strong statistics: in September, the consumer confidence index rose to 138.4 points against 134.7 points a month earlier. The index of production activity also increased to 29 points. The data reflect that the US economy continues to grow, and consumers feel confident and ready to spend more. Today, traders are waiting for the publication of the Fed's interest rate decision: it is expected to grow by 25 basis points. Fed's Monetary Policy Statement release will follow it.

As for the global news, the market has learned about the EU's plans to prepare a new payment mechanism that will allow most European companies to work with Iran, despite US sanctions. If the system is implemented, the relations between countries can tighten.

Support and resistance

Stochastic is around 67 points and does not give signals for opening positions.

Resistance levels: 0.9704, 0.9715.

Support levels: 0.9674, 0.9651.

Trading tips

Long positions can be opened from the current level with the target at 0.9704 and stop loss 0.9650.

US Dollar vs Swiss Franc

BuySellSpread
1.00050.9993120

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point0.9682
Take Profit0.9704
Stop Loss0.9650
Support levels0.9651, 0.9674, 0.9704, 0.9715
USD/CHF: general analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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