Fundamental Analysis of USD/CHF for July 7, 2017
July 7, 2017 8:57 amVideo
Latest News
- Market Comment – Dollar pulls back, but yen hits new 34-year low April 23, 2024
- What do the smaller US surveys say about the US economy? – Special Report April 23, 2024
- Technical Analysis – NZDUSD bounces off a 5-month low April 23, 2024
- Hot forecast for EUR//USD on April 23, 2024 April 23, 2024
- Microsoft reports earnings as AI wars intensify – Stock markets April 23, 2024
- Technical Analysis – Is gold ready for bearish correction? April 23, 2024
- XM and Singapore Red Cross: Stronger Together April 23, 2024
- Technical Analysis of Intraday Price Movement of Natural Gas Commodity Asset, Tuesday April 23, 2024. April 23, 2024
- Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday April 23, 2024. April 23, 2024
- Key events on April 23: fundamental analysis for beginners April 23, 2024
- EUR/USD and GBP/USD: Technical analysis on April 23 April 23, 2024
- Forecast for EUR/USD on April 23, 2024 April 23, 2024
- Forecast for GBP/USD on April 23, 2024 April 23, 2024
- Forecast for USD/JPY on April 23, 2024 April 23, 2024
- Outlook for GBP/USD on April 23. The pound resumed its decline without delay April 23, 2024
- Outlook for EUR/USD on April 23. Boring Monday went off without a hitch April 23, 2024
- Less reason to expect the dollar to weaken April 23, 2024
- The dollar is armed April 23, 2024
- GBP/USD: Simple trading tips for novice traders on April 22nd (US session) April 22, 2024
- EUR/USD: Simple trading tips for novice traders on April 22nd (US session) April 22, 2024
USD/CHF is currently ranging between the prices of 0.9550 to 0.9700. After a great non-volatile bearish trend, the pair is currently showing some bullish intervention after bouncing off the 0.9550 level. Today is a very important day for all USD pairs as a large number of high impact economic events will hit the wire today. Today, US Average Earning Index report is going to be published which is expected to show a slight rise to 0.3% from the previous value of 0.2%, Non-Farm Employment Change is expected to increase to 175k from previous value of 138k and Unemployment Rate is expected to remain unchanged at 4.3%. Along with economic events, today FED Monetary Policy report is going to be published today as well which is expected to be hawkish today. On the CHF side, today we have Unemployment Rate report published without any change at 3.2% and Foreign Currency Reserve showed a decrease of 1B at 693B from the previous value of 694B. CHF could not show any gain today due to downbeat economic reports and upcoming high impact US economic reports. Though the market is currently showing some bullish pressure, a good amount of volatility is expected to hit the market as the US will present a series of high impact reports today.
Now let us look at the technical chart. The price has bounced off the important support level of 0.9550 recently which did provide some bullish intervention in the pair currently. As the price is still in a strong bearish trend, the bias is still bearish until price breaks above 0.9700 with a daily close. Currently a break below 0.9550 is expected. If the price breaks below 0.9550 with a daily close, then we will be looking forward to sell with a target towards 0.9260 support level in the future. If the price remains inside the range of 0.9550 to 0.9700 without any break then further consolidation can be observed in the future.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: