Fundamental Analysis of USD/CHF for April 12, 2018
April 12, 2018 7:23 am
USD/CHF is currently quite bullish in nature having non-volatile trend in place which is expected to proceed much higher in the coming days. CHF has been struggling to sustain its momentum against USD despite USD having a tough time to build pressure in the market. Recently, CHF Unemployment Rate report was published with an unchanged value as expected to 2.9% which did not quite help the currency to inject some volatility in the market and interfere with the USD bullish pressure. On the USD side, today USD Unemployment Claims report is going to be published which is expected to 231k from the previous figure of 242k, Import Price is expected to decrease to 0.2% from the previous value of 0.4% and Natural Gas Storage is expected to decrease in deficit to -11B from the previous figure of -29B. As of the current scenario, having worse economic reports, USD is quite dominating over CHF which does explain the severe weakness of CHF in the process. To sum up, USD is expected to dominate CHF further in the coming days until CHF presents any better economic report or event to justify its counter momentum in the market.
Now let us look at the technical view. The price is currently quite non-volatile with the bullish gains which has confluence with the dynamic level of 20 EMA as well. The recent bullish pressure was not quite as impulsive as expected but good enough to drive the market higher in the coming days. As the price remains above the 0.95 area, the bullish bias is expected to continue.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF is currently quite bullish in nature having non-volatile trend in place which is expected to proceed much higher in the coming days. CHF has been struggling to sustain its momentum against USD despite USD having a tough time to build pressure in the market. Recently, CHF Unemployment Rate report was published with an unchanged value as expected to 2.9% which did not quite help the currency to inject some volatility in the market and interfere with the USD bullish pressure. On the USD side, today USD Unemployment Claims report is going to be published which is expected to 231k from the previous figure of 242k, Import Price is expected to decrease to 0.2% from the previous value of 0.4% and Natural Gas Storage is expected to decrease in deficit to -11B from the previous figure of -29B. As of the current scenario, having worse economic reports, USD is quite dominating over CHF which does explain the severe weakness of CHF in the process. To sum up, USD is expected to dominate CHF further in the coming days until CHF presents any better economic report or event to justify its counter momentum in the market.
Now let us look at the technical view. The price is currently quite non-volatile with the bullish gains which has confluence with the dynamic level of 20 EMA as well. The recent bullish pressure was not quite as impulsive as expected but good enough to drive the market higher in the coming days. As the price remains above the 0.95 area, the bullish bias is expected to continue.
The material has been provided by InstaForex Company – www.instaforex.com
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